Lebanon Extends Deadline to Submit Data For Forensic Audit

Lebanon’s caretaker Finance Minister Ghazi Wazni announced on Thursday a three-month extension of a deadline to provide all data required for a forensic audit of the central bank after it declined to submit some information, citing bank secrecy laws, Reuters reported. The caretaker prime minister and three sources familiar with the matter have said that Banque du Liban (BDL) was withholding information needed by restructuring consultancy Alvarez & Marsal to begin the audit, which is a key demand for foreign financial assistance to help Lebanon exit a financial meltdown. “In these three months, the Lebanese government will try to secure the documents that will allow the company to carry out the (audit) contract,” Wazni said in a televised news briefing following a meeting with Lebanon’s president, the central bank governor and an Alvarez & Marsal official. Read more