Officials say the measures could take effect before the end of the quarter, although parliament has yet to schedule a vote. The deal would be the largest of its kind in the country since 2019, according to data compiled by Beirut Financial.
The plan sets out three phases, beginning with an audit of balance sheets and ending with a recapitalisation schedule. A spokesperson declined to comment on the size of the facility, citing ongoing discussions with creditors.
The wider picture
The figures, published on Tuesday, compare with a contraction of 2.1 percent in the same period a year earlier. A spokesperson declined to comment on the size of the facility, citing ongoing discussions with creditors.
“This is the most consequential moment for the sector since the crisis began.”
Officials say the measures could take effect before the end of the quarter, although parliament has yet to schedule a vote. The figures, published on Tuesday, compare with a contraction of 2.1 percent in the same period a year earlier.
The figures, published on Tuesday, compare with a contraction of 2.1 percent in the same period a year earlier. Critics argue the timeline is unrealistic and that the burden will fall disproportionately on small depositors.
Market reaction
Economists expect inflation to ease into single digits by year end if the exchange rate holds. A spokesperson declined to comment on the size of the facility, citing ongoing discussions with creditors.
Economists expect inflation to ease into single digits by year end if the exchange rate holds. The announcement lifted shares in the sector by as much as four percent in early trading.
