Fears growing over Lebanon’s bankruptcy
The “state is bankrupt … so is the Banque du Liban,” Saadeh Al-Shami said on Monday, adding that “the loss has occurred, and we will seek to reduce the losses for the people.”
He said the losses would be attributed to the state, the central bank, and other lenders and depositors.
“We cannot live in a state of denial as we cannot allow withdrawals for all people who have deposits in banks,” he said.
Al-Shami’s statement came as a delegation from the International Monetary Fund is in talks with the Lebanese government on a financial recovery plan.