IMF: shareholders must absorb Lebanon’s bank losses first
Effort to repay depositors cannot undermine public debt sustainability, fund says after mission
Shareholders of Lebanon’s banks should be first in line to bear the cost of restructuring the country’s financial sector and repaying depositors, the International Monetary Fund has said.
In an end-of-mission statement on February 13, Ernesto Ramirez Rigo, an IMF official who led the organisation’s visit to Lebanon, said his team had “constructive discussions with Lebanese authorities” on efforts to restructure the country’s banking sector.
The Lebanese cabinet in December passed a draft law to
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