EXCLUSIVE-Lebanon spells out 'painful steps' required in financial rescue plan -draft

A policy statement by Lebanon's new government calls for interest rate cuts and bank recapitalization in a rescue plan that includes "painful steps" to address the country's financial crisis, according to a draft seen by Reuters on Sunday.

The policy statement was agreed on Saturday by a cabinet committee that will meet on Monday to give its final approval and will be the basis of a confidence vote from parliament.