Bank has enough currency reserves including dollars for the next 13 months but there isnt enough dollars for importers and traders how does that work well the fact is that the central bank does have. Reserves but the situation is actually quite precarious just because weve been actually living with a large budget deficit and very increasing a trade deficit now the inability of the lebanese government to actually attract capital from abroad its putting a lot of pressure on actually deserves so what the central bank is trying to do is actually slow down sort of of its reserves in order to actually contain this situation right now. Is there a trust issue between the banks and the Central Banks or as the Central Bank Governor has suggested dollars should be used inside lebanon and not outside is he suggesting then dollars are being withdrawn and spent in say syria actually did relationship between the Banking Sector and the central bank is actually quite strong in fact its that high level
A critical source of finance but there are other reasons behind the shortage of cash in the country. On iran for example affected its funding for its ally in lebanon which is also under sanctions this is disrupted the flow of remittances countries also stop providing help to a country they believe is controlled by their rival iran people are starting to take to the streets there is panic over the currency losing value which has hurt their spending power last month the government declared a state of economic emergency for these protesters however this crisis is not new and they want those in power to be held responsible for years of mismanagement and corruption well lets talk more about whats happening in lebanon from beirut we have sami executive director of the lebanese policy studies thanks very much for being with us. So i want to ask you 1st help me out with this the central bank has enough currency reserves including dollars for the next 30 months but there isnt enough dollars for
A special thanks to them for this lunch sponsorship. [applause] i also want to thank them for their seven years of sponsorship and support which has been greatly, really a key reason for us being able to host this forum with the government, military and to be able to do this now for the tenth year. So thank you very much. I want to just also point, give to your anticipation, please, on your seats are fliers that describe the next years event, september 8th and 9th at the Marriott Wardman park. So that will be september 8th and 9th, 2020. We also have Corporate Executives that are interested, we have a series of quarterly Leadership Council meetings. Were in the third year of that. If you look at the flipside, youll see the corporate members include cisco, aws, booz allen hamilton, raytheon, hp, northrup, google cloud. If youre interested in that, please let us know. Id also like to recognize and express our appreciation for the Advisory Board members. Ill list those once again as theyv
A critical source of finance but there are other reasons behind the shortage of cash in the country. On iran for example affected its funding for its ally in lebanon which is also under sanctions this is disrupted the flow of remittances countries also stop providing help to a country they believe is controlled by their rival iran people are starting to take to the streets there is panic over the currency losing value which has hurt their spending power last month the government declared a state of economic emergency for these protesters however this crisis is not new and they want those in power to be held responsible for years of mismanagement and corruption well lets talk more about whats happening in lebanon we have sami executive director of the lebanese policy studies thanks very much for being with us. So i want to ask you 1st help me out with this the central bank has enough currency reserves including dollars for the next 30 months but there isnt enough dollars for importers a
The meeting will come to order. Good morning and welcome to todays hearing, the u. S. Policy responses. This is the second China Commission hearing on the situation hong kong. During the may hearing, the commission heard compelling testimony from prodemocracy advocates. They expressed serious concern about the extradition bill that was moving towards becoming law at that time. That legislation wouldve put anyone in hong kong including u. S. Citizens at risk of extradition to Mainland China. Where a lack of due process and custodial leos have been well documented. Over the last six weeks millions of people in hong kong have taken to the streets and unprecedented and sustained show of unity. The protesters have inspired the world and everest their lives, health, jobs and the education to fight for the future of hong kong. Thank you for your courage and thank you for your bravery, we stand in solidarity. As protests get continue, Hong Kong Police use unnecessary force to target those in p