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Agreement with the IMF is imminent amid fears of a 'financial Taif' that would dismantle Banque du Liban

Lebanon ·

An IMF mission arrives in Beirut on Monday, and financial sources told An-Nahar that the talks are expected to lead to a staff-level agreement. The deal was earlier expected to be announced during Finance Minister Yassine Jaber's talks in Washington, during Prime Minister Nawaf Salam's visit, with signing to take place in Beirut. Sources attribute the delay to the fund's displeasure at the president's challenge to Article 3 of the bank restructuring law.

Lebanon has been in a deep financial crisis since 2019, with its banking sector collapsing and its public debt in default, and it has sought an IMF rescue program for years. Banque du Liban is the country's central bank.

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