Exclusive: Lebanon’s govt to take ‘painful steps’ in financial rescue plan – final policy statement

BEIRUT (Reuters) – Lebanon’s government approved a financial rescue plan that for cutting interest rates, restructuring banking sector and taking some “painful steps” while trying not to harm those with limited income, according to a copy seen by Reuters.

The cabinet agreed the final policy statement Thursday, with minor changes made to a draft obtained by Reuters on Sunday, and will present it to parliament next week for a vote of confidence.

(Reporting by Ellen Francis; Editing by Ghaida Ghantous and Chizu Nomiyama)