BEIRUT — Lebanon's financial adviser Lazard will see if a government financial rescue plan can be adjusted to reach a compromise workable for the International Monetary Fund, two sources said on Friday, after the plan hit resistance from politicians, banks and the central bank. The plan, which anticipates vast losses in the financial system, has been undermined by objections from Lebanon's ruling elite, obstructing IMF talks aimed at rescuing the country from a financial meltdown. The IMF said the losses appeared to be about the right order of magnitude. But a parliamentary fact-finding committee, backed by all Lebanon's main parties, objected to the approach taken in the plan. Applying different assumptions, it came up with losses between a quarter and half that amount.

Source: International New York Times July 17, 2020 14:37 UTC