April 30, 2020 / 3:06 PM / a month ago

Lebanon rescue plan targets beneficiaries of financial engineering, high rates

BEIRUT, April 30 (Reuters) - A government plan for digging Lebanon out of financial crisis aims to protect depositors’ money but will seek a contribution from those who benefited from extremely high interest rates and financial engineering and those who stole public funds.

Prime Minister Hassan Diab, in a televised speech on Thursday announcing the plan that will be used to seek IMF support, said there would be tough times ahead but he was confident Lebanon would emerge stronger. (Writing by Tom Perry; Editing by Samia Nakhoul)

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