Lebanon's cabinet has passed an economic recovery plan designed to pull the country out of a three-year financial meltdown, two ministerial sources told Reuters on Friday. Ministers agreed the measure in the cabinet's final session hours before losing decision-making powers, following the election of a new parliament on May 15 that is set to designate a new prime minister. The plan includes several measures that are prerequisites for an International Monetary Fund bailout, including a plan to restructure the banking sector and reforming a banking secrecy law. Lebanon reached a preliminary agreement with the IMF in April that listed a number of prior actions that the f
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