23 July 2024
The Bank Restructuring Law: No Political Will to Enact It Despite International Efforts
Despite being a key reform required by the IMF, no significant progress has been made regarding the approval of the bank restructuring law. Political disputes over the rehabilitation of the financial sector and deep disagreements regarding the allocation of losses among banks, depositors, and the Government have hindered its adoption.
This report underscores the importance of this reform as part of the staff-level agreement reached between the IMF and Lebanese authorities, followed by an overview of the latest developments related to the bank restructuring law. Finally, the challenges facing the adoption of this law are highlighted in this report.
This report is part of a series of reports produced by Maharat Foundation to track the progress of reforms highlighted in the Lebanon REFORM, RECOVERY AND RECONSTRUCTION FRAMEWORK (3RF) which is part of a comprehensive response to the massive explosion on the Port of Beirut on August 4, 2020, launched by the European Union (EU), the United Nations (UN) and the World Bank Group (WBG).
To read the full report:
The Bank Restructuring Law: No Political Will to Enact It Despite International Efforts
