Exclusive-Lebanon’s Bank Audi, others, disavow banking group’s objection to IMF plan

Published by
Reuters

By Timour Azhari and Maya Gebeily BEIRUT (Reuters) -Lebanon’s Bank Audi and Al-Mawarid Bank said on Wednesday they disagreed with a letter sent on behalf of the country’s banking association that branded a staff-level agreement (SLA) with the International Monetary Fund “unlawful”. The SLA pledges $3 billion in financing over four years to help Lebanon recover from a financial meltdown that has seen the currency lose more than 90% of its value. The two banks, as well as bankers from two other members of the Association of Banks in Lebanon (ABL) who asked to speak anonymously due to the sensiti…

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