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$3 billion 4-year facility initial deal with IMF reached – Staff level agreement contingent on reforms.

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The International Monetary Fund (IMF) has reached a ‘staff-level agreement’ with the government for a four-year ‘Extended Fund Facility’ that would only get full approval from the fund after a series of reforms is enacted. The IMF said in a statement that the Lebanese government, with IMF staff support, has formulated a comprehensive economic reform […]

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$500 million fund to lend local businesses To be established by Palladium, Bamboo Capital, and Cedar Oxygen 

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$500 million fund to lend local businesses – To be established by Palladium, Bamboo Capital, and Cedar Oxygen  A group of private Lebanese investors, made up of Palladium and its asset management arm Bamboo Capital Partners in addition to Cedar Oxygen, have entered into a strategic partnership to develop a $500 million fund. The Lebanon Economic Empowerment […]

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These are 2021′s best cities for first-time homebuyers in USA

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 Heavy competition in today’s pricey housing market has sidelined some first-time buyers, especially in major metropolitan areas. These buyers usually make up about 40% of the market, but now they’re less than a third, according to the National Association of Realtors. The majority are millennials ages 25-34. There is still hope for homeownership, however. […]

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Central Bank launches foreign exchange platform – Banks, money changers mandated to use it

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Central Bank launches foreign exchange platform – Banks, money changers mandated to use it The Central Bank (BDL) has issued two circulars, one authorizing banks to perform currency exchange operations based on a newly-launched money exchange platform, and the other mandating licensed money exchangers to use the platform exclusively for their operations. Both banks and money […]

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$300 million committed at international donor conference

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An emergency donor video-conference has raised pledges worth nearly €253 million ($300 million) for immediate humanitarian relief. The international response will be coordinated by the United Nations. The “assistance should be timely, sufficient and consistent with the needs of the Lebanese people … and directly delivered to the Lebanese population, with utmost efficiency and transparency,” […]

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