Lebanon’s central bank says ready to facilitate forensic audit by Alvarez & Marsal
April 1, 2021
File photo: Central bank governor Riad Salameh (L) with Finance Minister Ghazi Wazni . The departure of consultancy Alvarez & Marsal which was supposed to do the forensic audit of the Central bank as demanded by Lebanon creditors was described as the kiss of death to any future reforms
Lebanon’s central bank is ready to facilitate a forensic audit process by Alvarez & Marsal and will discuss this in a virtual meeting with the restructuring company on April 6, it said in a statement on Thursday.
Alvarez & Marsal pulled out of the audit procedure in November, saying it had not received the information it required, prompting parliament in December to lift banking secrecy for one year.
The audit is on a list of reforms that foreign donors have demanded before helping Lebanon out of its grave financial crisis, rooted in decades of state waste and corruption.