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Lebanon receives $1.139 billion in IMF SDRs - statement leaderpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from leaderpost.com Daily Mail and Mail on Sunday newspapers.
Alvarez & Marsal Will Reportedly Start Extensive Forensic Auditing Of Lebanon's Central Bank the961.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from the961.com Daily Mail and Mail on Sunday newspapers.
IMF Ready To Pledge Up To $4 Billion To A New 'Serious' Cabinet In Lebanon the961.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from the961.com Daily Mail and Mail on Sunday newspapers.
The request was confirmed by both a Lebanese army source and an Iraqi Defence Ministry official. “There will be more financial aid, but details have not been agreed on yet,” said the Iraqi official. The army source said that the money would be spent on food and medicine for its 80,000 soldiers. Neither side gave an official explanation for the army s request, but analysts were not surprised. “Institutions are trying to bypass the banking system and the Lebanese pound,” said financial analyst Mike Azar. “We have been moving to a cash economy for the last 18 months as the banking system remains insolvent. The currency crisis and multiple exchange rate system makes it challenging to do business in Lebanese pounds.” ....
SHARE Turkey s Karpowership, which provides electricity to Lebanon from two barges, said it was shutting down supplies on Friday over payment arrears and after a legal threat to its vessels in the country, which is in the middle of a deep economic crisis. The company, which supplies Lebanon with 370 megawatts, the equivalent of about a quarter of the country s current supply, told the government this week that it would have to take the step if there were no moves to reach a settlement. A source familiar with the situation said the measure was taken about 8am on Friday as fuel on the vessels ran out. ....