Lebanon finance minister awaiting central bank answers ahead of audit request

IslamNews – Lebanon’s finance minister said on Thursday he was awaiting some answers from the central bank ahead of a request to consultants Alvarez & Marsal to resume a forensic audit.

The audit is on a list of reforms that foreign donors have demanded before helping Lebanon out of its grave financial crisis, rooted in decades of state waste and corruption.

Alvarez & Marsal, a restructuring consultancy, pulled out of the audit procedure in November, saying it had not received the information it required, prompting parliament in December to lift banking secrecy for one year.

“When we get answers from the central council of the central bank we can contact A&M to resume with the audit,” caretaker finance minister Ghazi Wazni said in comments to media after meeting President Michel Aoun. It was not clear what information or approvals Wazni was awaiting from the central bank.

Wazni had said on Dec. 23 that he would contact the consultants to resume their work.

Source: Reuters