IMF underscores need for audit of Lebanese central bank

IMF underscores need for audit of Lebanese central bank

WASHINGTON  - The International Monetary Fund said on Thursday its discussions with Lebanese authorities are focused on the need for an accounting and financial audit of the balance sheet of the country's central bank to help assess its assets and liabilities.IMF spokesman Gerry Rice told reporters such an audit would also help assess the central bank's financing of government operations and its "financial engineering" of its own net worth, key elements to understanding past losses.Italy has joined France in pressing Lebanon to rebuild trust between its people and institutions and institute reforms to end decades of state corruption and mismanagement, moves aimed at clearing the way for international aid.Lebanon had launched talks with the IMF in May but those discussions stalled in July as the government argued with the political