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Lebanon's rating unaffected by Fitch's decision, confirms Acting BDL Governor to LBCI

Lebanon Economy

2024-07-23 | 14:46

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Lebanon's rating unaffected by Fitch's decision, confirms Acting BDL Governor to LBCI

After the credit rating agency, Fitch Ratings, announced that it will stop issuing ratings for Lebanon due to insufficient data to issue assessments, acting Banque du Liban (BDL) governor, Wassim Mansouri, confirmed to LBCI that this issue will not affect the country's rating, which is already at its lowest level.

He reassured that this matter is not related to the possibility of the country being placed on the Financial Action Task Force (FATF) "grey list."

He clarified that the issue stems from the lack of any statistics or data issued by the state since 2021, noting that such information is necessary to know and assess Lebanon's financial situation with transparency and accuracy.

He also mentioned that this was one of the demands of the International Monetary Fund (IMF) during its last visit.

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