IMF's tough terms deepen doubts over quick Lebanon bailout

The IMF has asked Lebanon to fulfil a string of pre-conditions before negotiating a bailout, four sources briefed on recent talks said, pressing for steps Beirut has long failed to deliver and compounding doubts over whether a rescue plan can be agreed, Reuters reports. An IMF deal is seen as the only way for Lebanon to recover from a financial meltdown that has plunged the country into its most destabilising crisis since the 1975 – 90 civil war. The sources told Reuters IMF terms for initiating talks on a bailout included a framework for fiscal reform, revamping the insolvent banking sector and audits of the Central Bank and the loss-making state power company. "They are saying before we have further […]

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