Lebanese experts believe that the country is still facing severe economic and financial challenges in 2022, urging the introduction of a comprehensive recovery plan which comprises thorough structural reforms to prevent it from sliding further .
Lebanese experts urge structural reforms to prevent national collapse-Xinhua english.news.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from english.news.cn Daily Mail and Mail on Sunday newspapers.
2021-04-23 12:06:45 GMT2021-04-23 20:06:45(Beijing Time) Xinhua English
by Dana Halawi
BEIRUT, April 23 (Xinhua) The decision by some correspondent banks to cut financial relations with the Central Bank of Lebanon will have dire repercussions for the country, Lebanese financial experts said.
The experts warnings come following a statement, released earlier this month by Lebanon s Central Bank Governor Riad Salameh, saying that international correspondent banks started to curtail their business relationships with the central bank, or Banque Du Liban (BDL), due to such facts as Lebanon s default on Eurobonds and political campaigns against the BDL.
The central bank governor added that such a move will place Lebanon in a difficult situation regarding foreign transfers and the purchase of basic commodities, as well as obtaining foreign currencies to operate various economic facilities.
Published on: Tuesday, March 09, 2021
By: AFP
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A man clad in mask depicting the Lebanese flag stands next to flaming tires at a make-shift roadblock set-up by anti-government demonstrators on the northern outskirts of Lebanon’s capital.
BEIRUT: Demonstrators blocked key roads across Lebanon on Monday in protest at the country’s political paralysis after the Lebanese pound hit record lows on the black market.
Black smoke billowed up from overturned rubbish dumpsters and tyres set ablaze by protesters at various entrances to Beirut from the early morning.
Lebanon is in the grips of its worst economic crisis in decades, compounded