Lebanon government approves financial economic plan

The Lebanese government has approved a financial economic reform plan an official source told Reuters on Thursday.

The country is currently in the midst of multiple crises as the economy continues to sink and inflation is on the rise. Coronavirus has recently dealt yet another blow to the country’s worsening situation.

A previous leaked draft version of the plan included measures to reform the country’s banking sector and gradually the official exchange rate, but economists and analysts were skeptical of the plan and the government’s ability to implement necessary reform.