{
  "id": 11242570,
  "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-11242570",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-01T15:00:00.000Z",
  "source": {
    "name": "The National UAE",
    "slug": "the-national-uae",
    "url": "https://www.thenationalnews.com/business/economy/2026/10/01/imf-lebanon-bank-resolution-law/"
  },
  "original_language": "en",
  "account": "The International Monetary Fund will evaluate possible modifications to Lebanon's bank resolution law to guarantee they align with international standards, according to the organization's spokeswoman on Thursday. The IMF praised the August-approved legislation as a significant step in revising Lebanon's banking sector restructuring strategy and revitalizing its struggling economy, which has been further strained by the conflict with Israel. The law aims to reform the banking system and gradually restore access to frozen depositors' funds. However, implementation may face delays as Lebanese President Joseph Aoun has appealed to the Constitutional Council regarding an amendment concerning the central bank's independence and authority. IMF communications director Julie Kozack stated, \"The IMF's perspective is that the bank resolution law approved by Parliament adheres to international standards, which we consider a crucial criterion.\" \"We have now been informed that the law was forwarded to the Constitutional Council by the President, and as that process unfolds, and if any adjustments are made to the law during this review, we will assess those changes for consistency with international standards and subsequently provide any new advice to the authorities accordingly.\"\n\nThe law is deemed a crucial element as Lebanon seeks a new staff-level agreement with the IMF. Although Lebanon signed an agreement with the IMF in 2022 following its economic collapse due to years of mismanagement and corruption, the government was slow to execute the necessary changes. IMF Managing Director Kristalina Georgieva expressed her appreciation to Lebanese Prime Minister Nawaf Salam at the fund's headquarters in Washington on Tuesday. She also highlighted Lebanon's ability to maintain macroeconomic stability in the face of unprecedented challenges. A World Bank report from August indicated that the renewed Israeli conflict has hindered Lebanon's fragile economic recovery, projecting a 6.4% contraction for the country's economy in 2025 after a 4.2% expansion in 2024. The World Bank and IMF are scheduled to revise their economic forecasts for Lebanon later this month. The Lebanese delegation, which included Finance Minister Yassine Jaber, met with US Treasury Secretary Scott Bessent on Monday. Bessent 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."
}