His Excellency the Deputy Prime Minister of the Lebanese Government, His Excellency Al-Shami, announced “the bankruptcy of the state and the Central Bank of Lebanon,” indicating that the losses will be distributed to the state, the Banque du Liban, banks and depositors.
In an interview with Al-Jadeed channel, Al-Shami said: “There is a fact that cannot be ignored, we cannot live in a state of denial, and we cannot open (banking) withdrawals to all people, and I wish that if we were in a normal state.”
He added, “There are absolutely no restrictions on internal bank transfers and withdrawals from bank to bank in the Capital Control Law.”
And he added, “There is no conflict of views about the distribution of losses, and they will be distributed to the state, the Bank of Lebanon, banks and depositors, but the state went bankrupt, as well as the Banque du Liban, and the loss occurred, and we will seek to reduce losses for people.”
He continued, according to “Russia Today”, that “the Ministry of Finance will develop a plan to pay the arrears, but that will not happen tomorrow, and we have enough time if there is a comprehensive political will.”