Lebanon central bank is seen closed, after Lebanon declared a medical state of emergency as part of the preventive measures against the spread of coronavirus disease. (File photo: Reuters)

Alvarez & Marsal to audit Lebanon central bank: Sources

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Lebanon’s cabinet agreed to hire turnaround specialist Alvarez & Marsal for a forensic audit of the central bank, government sources said on Tuesday, as the country grapples with a financial meltdown.

The audit “will represent a drastic transformation on the path to uncovering what happened at the financial level in terms of waste and theft,” Prime Minister Hassan Diab told cabinet earlier.

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