IMF calls on Lebanese to unite behind government reform plan
BEIRUT (AP) — The International Monetary Fund is urging Lebanese authorities to unite behind a government economic plan that has received a cool reception from the banking sector, saying the country needs a reform program to rescue an economy mired in crisis. Lebanon, one of the most indebted nations in the world, is passing through the worst economic and financial crisis in its modern history, with its currency having plunged to record lows against the dollar. In April, the government adopted a 53-page Financial Recovery Plan. It says the country’s losses stand at about $69 billion. The Central Bank, the banking sector and a parliamentary committee estimate much lower losses.