Lebanon uses “Alvarez & Marcel” to conduct a criminal investigation of the Central Bank

The finance minister of the outgoing government in Lebanon, Ghazi Wazni, said today Tuesday that the country’s new government will sign a Central Bank criminal audit contract with Alvarez & Marsal within days.

Prime Minister Najib Mikati formed a new government on Friday and Youssef Khalil was chosen as finance minister.

The scrutiny stopped last year when restructuring consultancy Alvarez & Marcel withdrew in November, saying it did not receive the information it needed from the central bank.

The previous withdrawal decision represented a setback for Lebanon, as control is one of the main demands of foreign donors to help the country overcome financial collapse, in its worst crisis since the 1975-90 civil war.

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