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Wednesday, 20 January 2021

Lebanon ready to float currency after aid secured: Minister

AFP , Friday 15 May 2020
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Lebanon's finance minister said Friday his crisis-hit country was ready to comply with a request from the International Monetary Fund to float its struggling local currency after receiving foreign aid.

Ghazi Wazni told AFP that Lebanon would also slash by half the number of commercial banks in its oversized banking sector in a bid to alleviate its worst financial crisis since the 1975-1990 civil war.

 

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