{
  "id": 11232761,
  "title": "IMF to assess potential changes to Lebanon's bank resolution law",
  "url": "https://urgent.news/2026/10/01/imf-to-assess-potential-changes-to-lebanons-bank-resolution-law-11232761",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-01T15:00:00.000Z",
  "source": {
    "name": "The National Business",
    "slug": "the-national-business",
    "url": "https://www.thenationalnews.com/business/economy/2026/10/01/imf-lebanon-bank-resolution-law/"
  },
  "original_language": "en",
  "account": "The International Monetary Fund (IMF) will evaluate potential modifications to Lebanon's bank resolution law to ensure they align with international standards, according to the organization's spokeswoman. The IMF welcomed the August-approved legislation as a significant step in reforming Lebanon's banking sector and revitalizing its struggling economy, which has been further undermined by the conflict with Israel. The law aims to revamp the banking sector, allowing frozen depositors to regain access to their savings incrementally. However, implementation might be delayed as Lebanese President Joseph Aoun has appealed to the Constitutional Council regarding an amendment concerning the central bank's independence and power.\n\nIMF communications director Julie Kozack stated that the IMF considers the bank resolution law consistent with international standards, which is a crucial criterion. The organization will assess any changes made to the law due to the review process for consistency with international standards and will provide the relevant authorities with updated advice accordingly. The law is deemed a critical component for Lebanon's pursuit of a new staff-level agreement with the IMF, which was signed in 2022 after the country's economy collapsed due to mismanagement and corruption. However, the government was slow to implement the changes.\n\nFor a staff-level agreement to be reached, other requirements include an appropriate financial gap law, a 2027 budget, a medium-term fiscal framework, and other reforms such as financial management and governance. Lebanese President Joseph Aoun's appeal to the Constitutional Council regarding the amendment came after the IMF Managing Director, Kristalina Georgieva, hosted Lebanese Prime Minister Nawaf Salam at the fund's headquarters in Washington. Georgieva congratulated Salam on recent reform progress, including the approval of amendments to the Bank Resolution Law, which advanced Lebanon towards a new IMF program.\n\nGeorgieva and Salam also discussed how Lebanon has maintained a measure of macroeconomic stability despite the country's exceptionally challenging circumstances. A World Bank report from August indicated that the renewed conflict in Israel has derailed Lebanon's fragile economic recovery. The World Bank projects that Lebanon's economy will contract by 6.4 percent in 2025, following a 4.2 percent expansion in 2024. The World Bank and IMF are set to update their economic projections for Lebanon later this month. The Lebanese delegation sent to Washington earlier this week, including Finance Minister Yassine Jaber, held a meeting with US Treasury Secretary Scott Bessent, who emphasized the importance of advancing financial sector reforms to restore confidence in Lebanon's banking system.",
  "summary": "The International Monetary Fund will assess any potential changes to Lebanon's bank resolution law to ensure they are consistent with international standards, the multilateral organisation's spokeswoman said on Thursday. The IMF had welcomed the law, approved in August, as a significant step in efforts to revamp Lebanon 's banking sector restructuring strategy and boost the recovery of its…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The National UAE",
        "title": "IMF to assess potential changes to Lebanon's bank resolution law",
        "url": "https://urgent.news/2026/10/01/imf-to-assess-potential-changes-to-lebanons-bank-resolution-law",
        "published": "2026-10-01T15:00:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}