The Lebanese Central Bank issued recently a statement where it announced that it will soon be submitting a first draft of the banking sector restructuring plan, while also pointing out that the draft plan will be subject of discussion with the IMF, the Prime Minister, relevant ministries and a host of advisors. The Central Bank announced that the plan will be drafted in a manner that addresses the multifaceted issues facing the Lebanese economy, its public finances, and the banking sector. The statement added that the plan will adopt a unified, consistent, and flexible approach that must ultimately garner the support and approval of all relevant parties, including the government, Banque du Liban, and commercial banks. The plan will prioritize the repayment of deposits to small depositors and the gradual recapitalization of banks, enabling them to resume lending activity and to effectively contribute to supporting economic growth. Finally, BDL emphasized on the role of the Parliament, particularly the Finance & Budget committee and the Administration & Justice Committee, in reviewing, discussing, drafting, and approving the set of emergency laws that must be enacted to ensure the ratification and implementation of the final plan, which will require economic concessions and sacrifices from all parties without exception.