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Lebanon c.bank forensic audit to begin June 27: sources

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Al-Araby

A team from US-based auditor Alvarez and Marsal (A&M) will arrive in Lebanon on June 27 and begin a long-delayed forensic audit of the country’s central bank, two Lebanese official sources told Reuters. The forensic audit, to examine the bank’s past financial transactions to boost transparency, has been a key demand of donor states that want Lebanon to enact reforms before releasing funds to help address a financial meltdown that began in 2019. The meltdown, which has sunk the currency by more than 90%, fuelled poverty and left a $70 billion hole in the financial system, is Lebanon’s most dest…

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