His Excellency al-Shami, the Deputy Prime Minister of Lebanon, announced today (Monday) that the country, as well as its central bank, are bankrupt. “The losses will be shared with the state, the banks and the depositors. Unfortunately the state is bankrupt, as is the Bank of Lebanon, and we want to come out with a result. If nothing is done, the loss will be much bigger,” he said.
“We are in the midst of negotiations with the International Monetary Fund and are in daily contact with them, and for the first time this great task has arrived and we have made great progress in negotiations,” al-Shami added.
He added that “we hope to reach an agreement in one round or another. Negotiations are currently focused on a number of issues, namely, reform and reorganization of the banking sector, balanced fiscal policy to serve the public debt, public sector and electricity reform, exchange rate consolidation, monetary policy and treatment.” Inflation. ”