BEIRUT (Reuters) – Lebanon’s banking association said on Tuesday that government figures being presented to the International Monetary Fund in talks for a reform programme do not form a “valid basis” for rescuing the economy.
In a statement, the banking association said Beirut has ignored its own contributions to the rescue plan and said touching Lebanese deposits should be avoided.
The association has strongly criticised Beirut’s plan, which envisions using bank capital and deposits to cover large financial sector losses.
(Reporting by Eric Knecht; Editing by Chris Reese)
