Lebanon News

Khalil signs forensic audit contract with Alvarez and Marsal

Lebanon's newly appointed Finance Minister Youssef Khalil looks on during a handover ceremony in Beirut, Lebanon September 14, 2021. REUTERS/Mohamed Azakir

BEIRUT: Finance Minister Youssef Khalil Friday signed a new contract with restructuring consultancy Alvarez and Marsal (A&M) to carry out a forensic audit at the country’s central bank, the ministry said in a statement.

A&M will give an initial report to the ministry within 12 weeks of its team starting work, the ministry said.

The plan for an audit, a key requirement for Lebanon to secure foreign aid amid its financial meltdown, hit a roadblock in November when A&M withdrew, saying it had not received the information it needed from the central bank.

 

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