Governor of Banque du Lebanon denies bankruptcy of central bank

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Tue, 05 Apr 2022 - 02:05 GMT

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Tue, 05 Apr 2022 - 02:05 GMT

U.S. dollars - Pixabay

U.S. dollars - Pixabay

CAIRO - 5 April 2022: Governor of the Banque du Lebanon, Riad Salama announced that what was circulated about the bankruptcy of the Central Bank is incorrect.
 
Salama clarified that the Banque du Lebanon is still exercising its role entrusted to it under Article 70 of the Monetary and Credit Law, explaining that it will continue to do so, despite the losses that afflicted the financial sector in Lebanon.
 
He pointed out that what afflicted the financial sector in Lebanon is being addressed in the recovery plan that is currently being prepared by the Lebanese government in cooperation with the International Monetary Fund.
 
Earlier, Deputy Prime Minister of the Lebanese Government, Saada Al-Shami revealed the bankruptcy of his country and the Central Bank of Lebanon.
 
Al-Shami said that the losses will be distributed to the state, the Banque du Lebanon, banks and depositors.
 
He added that the losses will be distributed to the state, the Banque du Lebanon, banks and depositors, noting that there is no specific percentage.
 
 

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