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MENA Observatory – Lebanon
The criminal auditing firm “Álvarez y Marsal” canceled its contract with the Lebanese government due to the refusal of the Central Bank to provide the requested documents.
The Lebanese Presidency reported that the interim Finance Minister, Ghazi Wazni, informed President Michel Aoun that “he received a letter from Álvarez and Marsal to terminate the agreement signed with the Ministry of Finance for the forensic accounting audit, because the company did not it obtained the information and documents necessary to begin to fulfill its mission. “
The termination of the contract occurred today, Friday, despite the announcement of my weight on the fifth of this month of extending the deadline for the Banque du Liban to deliver all the required data for a period of three months, after it did not do so. within the basic period included in the contract.
The criminal scrutiny in the accounts of the Banque du Liban constitutes the most outstanding items of the economic recovery plan that the government approved months ago to negotiate with the International Monetary Fund, since it was included in the provisions of the road map prepared by France to help Lebanon get out of the cycle of economic collapse.
The Lebanese government used the specialist firm this year to audit central bank accounts at a time when the country was suffering an unprecedented financial collapse. Álvarez and Misrul declined to comment.
The Lebanese crisis devastated the local currency, paralyzed banks and led to sovereign debt defaults. And scrutiny is a key requirement from the International Monetary Fund and foreign donors, especially France, which is pushing the indebted country to tackle waste and corruption.
