Lebanon is looking to negotiate with the IMF to help navigate the country out of its economic crisis
A central bank official explained Tuesday that Lebanon is still in the process of calculating the country’s losses for the International Monetary Fund (IMF), but the country aims to sign a memorandum of understanding (MOU) with the institution by the end of the year.
“We are... still in the process of gathering the data that is requested by the IMF and the issue of the losses... are not going to be a hurdle for these negotiations, at least from the side of the central bank,” Lebanon's Central Bank Governor Riad Salameh explained in an interview with Reuters.
During the meeting, Salameh also again disputed the allegations of “aggravated money laundering” levied against him.
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An investigation of Salameh is now underway throughout four countries in Europe, where authorities are probing the official’s financial affairs for purported misconduct at the Banque du Liban (BDL), Lebanon’s central bank.
Lebanon is looking to negotiate with the IMF to help navigate the country out of its economic crisis, and the official explained the country’s Prime Minister Najib Mikati established a deadline to sign a MOU with the fund by the end of the year.
Salameh said the BDL and Lebanon’s government are working “very hard to achieve” the scheduled objective.