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Protests held in Beirut against draft capital control law

BEIRUT: Protests were held in Beirut on Tuesday against a draft capital control law, even as parliamentary committees discussed the proposed legislation. Formal capital controls are an International Monetary Fund policy recommendation, and Lebanon hopes to secure an IMF aid package after the country’s financial system imploded in 2019, paralyzing the banking system and ....

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Fears growing over who will pay for Lebanon's bankruptcy

BEIRUT: Lebanon and its central bank are bankrupt, according to the country’s deputy prime minister. The “state is bankrupt … so is the Banque du Liban,” Saadeh Al-Shami said on Monday, adding that “the loss has occurred, and we will seek to reduce the losses for the people.” He said the losses would be attributed to the state, the central bank, and other lenders and ....

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