Four years into crisis, Lebanon’s leaders hope tourism boom will help bypass reforms in IMF bailout ...Middle East

By KAREEM CHEHAYEB Associated Press BEIRUT (AP) — Lebanon’s political elites are pushing a recovery plan for the country’s financial collapse that would allow them to sidestep tough reforms demanded by the International Monetary Fund. But economic experts and former officials say that would largely shift the burden of paying to bail out the financial system away from senior politicians, their families and associates — and onto ordinary Lebanese. The IMF plan would audit banks and force them to sell assets and merge, putting the losses on powerful shareholders. Instead, politicians are hoping a boom in tourism, remittances from abroad and, eventually, revenues from new gas discoveries will

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Last updated : 23 August 2023 clock 08:44 AM

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Four years into crisis, Lebanon’s leaders hope tourism boom will help bypass reforms in IMF bailout ...Middle East

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