Article

2020-04-11 Syria-Lebanon-Iran

Hariri criticizes the government over a draft program for tackling a major financial crisis

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Posted by Fred 2020-04-11 00:00|| || Front Page|| [13 views ] Top
File under: Hezbollah

#1 Saad Hariri should know, he was leader of a failed state.
Thierry MEYSSAN wrote on 17/12/2019: The Central Bank of Lebanon has again authorized private banks to freely deliver Lebanese pounds, but still no dollars. This exchange control is illegal because it has not been validated by Parliament. Several large companies have already filed for interim relief before the courts.
The wheat, oil and medicine import sectors are out of business, all the others are in recession.
Public debt stands at 154% of GDP. The Lebanese pound was depreciated by half its value in three months, taking the Syrian pound, already mistreated during the war by the Saudi and Qatari counterfeit currency, into its fall. Financial crisis led Parliament to adopt a new tax that triggered demonstrations that paralysed the country since October 17, 2019. In all likelihood, it originated in a massive scam set up by the country’s political leaders through the Central Bank.

Posted by b 2020-04-11 08:37|| 2020-04-11 08:37|| Front Page Top

#2 /\ In all likelihood, it originated in a massive scam set up by the country’s political leaders through the Central Bank.

Why should we be concerned.... oh WAIT !

Posted by Besoeker 2020-04-11 08:39|| 2020-04-11 08:39|| Front Page Top

#3 Might have to do some back-testing, but I wonder when Lebanon defaulted. Also wonder when the markets crashed. Also wonder if any big banks, particularly European, got caught up in this. And then along came COVID-19....

Posted by Clem 2020-04-11 09:19|| 2020-04-11 09:19|| Front Page Top

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