Lebanon cabinet approves financial rescue plan
BEIRUT: Lebanon’s government on Thursday approved a rescue plan to pull the country from its worst economic and financial crisis in decades, which must now win a vote of confidence in parliament.
A draft policy statement seen by Reuters on Sunday outlined broad plans, including reducing interest rates, recapitalising banks, restructuring the public sector and seeking support from foreign donors.
The information minister said on Thursday that the cabinet had approved the plan with some amendments, which ministerial sources said were minor.
It was not immediately clear what changes were made to the 17-page statement, which is expected to be presented next week in parliament for the new government to secure a vote of confidence. – Reuters