Lebanon’s government welcomes banks’ input in rescue plan – ZAWYA

Lebanon’s government welcomes banks’ input in rescue plan – ZAWYA

LONDON - Lebanon's government on Friday welcomed a contribution by local banks to a financial recovery plan but said there were issues that will need to be reconciled between the two sides.. The Association of Banks in Lebanon this week published a proposal for helping Lebanon recover from its financial crisis after criticising the government's rescue plan, which forms the basis for negotiations with the International Monetary Fund.. In a statement, the government said the banks' proposal contained an "encouraging consensus on some of the key issues", but that some details were not fully addressed and there were areas of difference.. The association's proposal, issued on Wednesday, called for a debt restructuring that minimised the damage to Lebanon's nearly 3 million depositors and tapped state assets to avoid damaging banks..