February 6, 2020 / 10:04 AM / in 6 months

Lebanon cabinet approves financial rescue plan - ministerial sources

BEIRUT, Feb 6 (Reuters) - Lebanon’s cabinet approved on Thursday a government policy statement that includes a financial rescue plan with minor amendments, ministerial sources and local media said after the meeting.

A draft policy statement seen by Reuters on Sunday outlined broad plans to tackle a deep financial crisis, including reducing interest rates, recapitalising banks, restructuring the public sector and seeking support from international donors.

It was not immediately clear what amendments were made to the plan, which will be presented to parliament for a vote of confidence in the new government formed last month by the Iran-backed Hezbollah group and its political allies. (Reporting Beirut newsroom;)

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