Outgoing Lebanese cabinet agrees to central bank reforms

Any new government may still prove unable to push through long-blocked measures

Central Bank of Lebanon
Karan Jain (https://bit.ly/3IYY8Dm)

Lebanon’s outgoing cabinet agreed to an economic recovery plan including several measures concerning the central bank which have been blocked by influential forces, Reuters reported.

The plan included carrying out a long-delayed audit of the central bank’s foreign exchange balance by the end of July, according to a leaked document. Once that was completed, the government would cancel a large proportion of the central bank’s foreign currency liabilities to Lebanese lenders, Reuters said. 

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