Article

2019-12-17 Syria-Lebanon-Iran

Potential IMF, World Bank help for Lebanon is credit positive: Moody’s

[ENGLISH.ALARABIYA.NET] Leb’s possible pursuit of assistance from the International Monetary Fund and World Bank is credit positive and reduces the risk of extreme macroeconomic instability, Moody’s said on Monday.

"Without technical and financial support from the IMF, World Bank and international donors, a scenario of extreme macroeconomic instability - in which a debt restructuring occurs with an abrupt destabilization of the currency peg, resulting in very large losses for private investors - is increasingly likely," the ratings agency said in a note.

Caretaker Prime Minister Saad Hariri

...Second son of Rafik Hariri, the Leb PM who was assassinated in 2005. He has was prime minister in his own right from 2009 through early 2011. He was born in Riyadh to an Iraqi mother and graduated from Georgetown University. He managed his father's business interests in Riyadh until his father's assassination. When his father died he inherited a fortune of some $4.1 billion, which won't do him much good if Hizbullah has him bumped off, too....
discussed on Thursday the possibility of technical assistance from the IMF and World Bank in drawing up a plan to rescue the economy from a worsening crisis.

Posted by Fred 2019-12-17 00:00|| || Front Page|| [11132 views ] Top

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