EXCLUSIVE-Lebanon c.bank forensic audit to begin June 27 - two Lebanese sources

A team from U.S.-based auditor Alvarez and Marsal (A&M) will arrive in Lebanon on June 27 and begin a long-delayed forensic audit of the country's central bank, two Lebanese official sources told Reuters. The forensic audit, to examine the bank's past financial transactions to boost transparency, has been a key demand of donor states that want Lebanon to enact reforms before releasing funds to help address a financial meltdown that began in 2019.

A team from U.S.-based auditor Alvarez and Marsal (A&M) will arrive in Lebanon on June 27 and begin a long-delayed forensic audit of the country's central bank, two Lebanese official sources told Reuters.

The forensic audit, to examine the bank's past financial transactions to boost transparency, has been a key demand of donor states that want Lebanon to enact reforms before releasing funds to help address a financial meltdown that began in 2019. The meltdown, which has sunk the currency by more than 90%, fuelled poverty and left a $70 billion hole in the financial system, is Lebanon's most destablising crisis since the 1975-90 civil war.

After a series of false starts, the full forensic audit would begin in full next week, two Lebanese official sources said. A&M, the central bank and the finance ministry did not respond to requests for comment. Lebanon first signed a contract with A&M to audit the central bank in September 2020.