The Lebanese Financial Crisis and Gap Law: A Critical Banker’s View
Prepared for IFI Closed Roundtable: Friday, February 6, 2026; 5-6.30 pm
The Lebanese crisis is more than six years old now, and there doesn’t yet seem to be an end in sight soon. Recently, a proposed Financial Gap law has been approved by the Government in December 2025 and then passed on to Parliament for ratification. The Law will not only decide the fate of deposits but the fate of the banking sector as well. In this note we will, briefly, first present a critical outline of the position of the IMF – who was kept abreast of the Law and shadowed its formulation – then provide a critical outline of the Law itself. This will be followed by some suggestions on how to improve it and the way forward – that is, saving the best for last.
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