BDL added a footnote to its newest bi-monthly BDL stability sheet the place roughly 16 billion {dollars} was added to the general public debt owned by the Lebanese state to the Central Financial institution. The reasoning behind it? BDL Governor Salameh seemingly has simply realized that he’s been loaning the state since 2007 and determined to file what the state owns him as property, all that “shockingly” few months earlier than his time period expires.
In different phrases, he’s reshuffling the stability sheet to cut back the banks’ losses and improve considerably the Lebanese state public debt. Added to that, he’s camouflaging the 50 billion greenback loss by including 16 billion {dollars} as a debt obligation and a “valuation adjustment” asset amounting to roughly 36 billion {dollars}. Why is he doing that? As a result of the banks have been plotting with the BDL and ruling political events after all to take advantage of public funds to chop their losses beneath the false pretext of returning financial institution deposits to their house owners.
بس كل الحق عل lلحصار!!
I like to recommend you try Jad’s episode on this scandal for extra in-depth clarification.
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