Draft of Lebanese financial rescue plan promises ‘painful’ steps

Draft of Lebanese financial rescue plan promises ‘painful’ steps

February 3, 2020 at 3:45 am | Published in: Europe & Russia , France , Lebanon , Middle East , News. Lebanon's new government will look to reduce interest rates and recapitalise banks as part of a broad plan that includes taking "painful" steps to escape a deep financial crisis, according to a draft policy statement seen by Reuters.. Read: Lebanon finance minister asks banks to cut interest rates. International donors pledged about $11 billion at a Paris conference in 2018 but have withheld the money until Lebanon commits to reforms aimed at cutting government waste..