Lebanon to seek up to $5bln in soft loans, prime minister rallies support - Reuters:
Lebanon’s new government must reassure international donors it is serious about reforms to tackle a financial crisis as it looks initially to secure up to $5 billion in soft loans for basic goods, its finance minister said on Thursday.
The government that took office on Tuesday faces an emergency in which banks have imposed controls, the Lebanese pound has weakened and protesters have turned to violence which a senior U.N. official described as “politically manipulated”.
“The entire international community has its eye on what this government will do,” Finance Minister Ghazi Wazni said in televised comments. “What is its programme, what are the reform steps, is it ready for support or no?”
Lebanon is looking to secure $4 billion to $5 billion in soft loans from international donors to finance purchases of wheat, fuel and medicines, The Daily Star newspaper had earlier quoted the minister as saying.
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