IMF Says Not Clear How Withdrawals from Foreign Currency Deposits Will Be Financed in Lebanon

The International Monetary Fund on Thursday said that it does not see the need for Lebanon to implement the Capital Control Law now without subsidy or appropriate fiscal and other exchange rate policies.

According to Reuters, IMF stressed that it is not clear how the planned withdrawal of deposits will be financed given the sharp decline in foreign currencies in Lebanon in recent years.

"The proposals to control capital and withdraw deposits in Lebanon need to be part of broader policy reforms.