Lebanon’s emergency plans to stave off imminent default will have the full support of the Banque du Liban, its governor Riad Salamé told Euromoney at the IMF meetings in Washington on October 19. But real commitment to reform is needed to unlock an $11 billion funding package and the private sector investment that will prompt a true recovery in Lebanon.
Countrywide protests, which began on October 17 after the government revealed plans to charge a fee on WhatsApp calls, showed little sign of abating by Wednesday 23, even after the government unveiled a plan to stimulate growth and reduce Lebanon’s deficit without resorting to more taxes.
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