Lebanon to adopt one approach on financial losses

The Lebanese presidency said on Thursday, that Lebanon will decide on one approach on figures it is presenting in IMF negotiations, seeking to reconcile different approaches taken by the government and central bank for assessing losses in the financial system.

After a meeting grouping the president, prime minister, finance minister and central bank governor, the presidency said agreement was reached on the “necessity of unifying the numbers according to one approach”.

“A meeting will be held on Monday to decide on the numbers in order to facilitate the negotiations” with the IMF, upon which Lebanon is counting to claw its way out of a financial crisis seen as the biggest threat to its stability since the 1975-1990 civil war.