Lebanon's Central Bank Agrees to Give A&M Info for Audit

A view shows the Central Bank building, in Beirut, Lebanon November 12, 2020. (Reuters)
A view shows the Central Bank building, in Beirut, Lebanon November 12, 2020. (Reuters)
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Lebanon's Central Bank Agrees to Give A&M Info for Audit

A view shows the Central Bank building, in Beirut, Lebanon November 12, 2020. (Reuters)
A view shows the Central Bank building, in Beirut, Lebanon November 12, 2020. (Reuters)

Lebanon’s finance ministry said the central bank agreed on Tuesday to provide by the end of the month the documents required by Alvarez & Marsal for a stalled forensic audit.

The audit, which hit a roadblock last year, is a key condition for foreign aid that Lebanon badly needs as it grapples with a financial collapse rooted in decades of waste and graft. The currency has crashed and banks are paralyzed.

When restructuring consultancy A&M withdrew from the audit last November, it said it had not received the information it needed from Lebanon’s central bank.

Parliament agreed in December to lift banking secrecy for one year, amid much back-and-forth between Lebanese officials including the ministry and the central bank over whether certain information could be disclosed.

After a meeting with the central bank and A&M on Tuesday, the finance ministry said the bank confirmed its commitment to an audit and to deadlines to provide the necessary documents. It said attendees would stay in contact “in order to re-activate the forensic audit and evaluate the current development”.

There was no immediate comment from the central bank or A&M.



Fears for Gaza Hospitals as Fuel and Aid Run Low

The Palestinian health ministry in Gaza said Friday that hospitals have only two days' fuel left before they must restrict services, after the UN warned aid delivery to the war-devastated territory is being crippled. - AFP
The Palestinian health ministry in Gaza said Friday that hospitals have only two days' fuel left before they must restrict services, after the UN warned aid delivery to the war-devastated territory is being crippled. - AFP
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Fears for Gaza Hospitals as Fuel and Aid Run Low

The Palestinian health ministry in Gaza said Friday that hospitals have only two days' fuel left before they must restrict services, after the UN warned aid delivery to the war-devastated territory is being crippled. - AFP
The Palestinian health ministry in Gaza said Friday that hospitals have only two days' fuel left before they must restrict services, after the UN warned aid delivery to the war-devastated territory is being crippled. - AFP

The Palestinian health ministry in Gaza said Friday that hospitals have only two days' fuel left before they must restrict services, after the UN warned aid delivery to the war-devastated territory is being crippled.

The warning came a day after the International Criminal Court issued arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former defence minister Yoav Gallant more than a year into the Gaza war.

The United Nations and others have repeatedly decried humanitarian conditions, particularly in northern Gaza, where Israel said Friday it had killed two commanders involved in Hamas's October 7, 2023 attack that triggered the war.

Gaza medics said an overnight Israeli raid on the cities of Beit Lahia and nearby Jabalia resulted in dozens killed or missing.

Marwan al-Hams, director of Gaza's field hospitals, told reporters all hospitals in the Palestinian territory "will stop working or reduce their services within 48 hours due to the occupation's (Israel's) obstruction of fuel entry".

World Health Organization chief Tedros Adhanom Ghebreyesus said he was "deeply concerned about the safety and well-being of 80 patients, including 8 in the intensive care unit" at Kamal Adwan hospital, one of just two partly operating in northern Gaza.

Kamal Adwan director Hossam Abu Safia told AFP it was "deliberately hit by Israeli shelling for the second day" Friday and that "one doctor and some patients were injured".

Late Thursday, the UN's humanitarian coordinator for the Palestinian territories, Muhannad Hadi, said: "The delivery of critical aid across Gaza, including food, water, fuel and medical supplies, is grinding to a halt."

He said that for more than six weeks, Israeli authorities "have been banning commercial imports" while "a surge in armed looting" has hit aid convoys.

Issuing the warrants for Netanyahu and Gallant, the Hague-based ICC said there were "reasonable grounds" to believe they bore "criminal responsibility" for the war crime of starvation as a method of warfare, and crimes against humanity including over "the lack of food, water, electricity and fuel, and specific medical supplies".

At least 44,056 people have been killed in Gaza during more than 13 months of war, most of them civilians, according to figures from Gaza's health ministry which the United Nations considers reliable.