RusBankrot
We know everything about bankruptcy
24/11/2024
Sunday
THIS DAY IN HISTORY:
24 November 
1970 The United States and the USSR ratified the nuclear non-proliferation treaty.
1970 The Central Committee of CPSU restored the national autonomy of the Kalmyks, Karachais, Balkars, Chechens and Ingush.
1970 Charles Darwin published The Origin of Species - the first edition was sold out in a day.
24 November
1970 The United States and the USSR ratified the nuclear non-proliferation treaty.
1970 The Central Committee of CPSU restored the national autonomy of the Kalmyks, Karachais, Balkars, Chechens and Ingush.
1970 Charles Darwin published The Origin of Species - the first edition was sold out in a day.
Prime Minister of Lebanon: "The state has gone bankrupt…What a pity."
Lebanon became the first country in the world to go into default in 2022. But this bankruptcy is far from the first in the modern history of the republic. In 2020, Lebanon already defaulted, but now it has come to the Central Bank (Banque du Liban).
Information about the insolvency of the republic was published by the Deputy Prime Minister Saad ash-Shami. He acknowledged the situation as a failure, supplementing his message with an expression of pity for what had happened. The question of what exactly the country's authorities will do next remains open.
Al-Shami told the local channel Al-Jadeed that the authorities will strive to minimize the losses that ordinary citizens will inevitably suffer due to bankruptcy. Losses are planned to be distributed among the state, the Central Bank, credit institutions of the country and depositors.
The ability to withdraw cash in dollars or euros in Lebanon has also been limited since 2019. At the same time, the national currency, which lost 90% of its former value, literally closed many citizens' access to basic goods, from drinking water, food to education and health care.
It is noted that a couple of days ago, the Lebanese prosecutor's office issued an order to freeze the accounts of the head of the Central Bank, Riyad Salameh. He is suspected of embezzling state property.
Information about the insolvency of the republic was published by the Deputy Prime Minister Saad ash-Shami. He acknowledged the situation as a failure, supplementing his message with an expression of pity for what had happened. The question of what exactly the country's authorities will do next remains open.
Al-Shami told the local channel Al-Jadeed that the authorities will strive to minimize the losses that ordinary citizens will inevitably suffer due to bankruptcy. Losses are planned to be distributed among the state, the Central Bank, credit institutions of the country and depositors.
Lebanon has been in an economic crisis since late 2019.
The country experienced a massive depreciation of the currency, people do not have enough fuel and medicines. Massive power outages often occur.The ability to withdraw cash in dollars or euros in Lebanon has also been limited since 2019. At the same time, the national currency, which lost 90% of its former value, literally closed many citizens' access to basic goods, from drinking water, food to education and health care.
It is noted that a couple of days ago, the Lebanese prosecutor's office issued an order to freeze the accounts of the head of the Central Bank, Riyad Salameh. He is suspected of embezzling state property.
The French press reports that the authorities of France and the United States intend to help Lebanon.
The media refer to President Emmanuel Macron, who announced the adoption of additional measures and participation in the Lebanese agreement with the IMF. At the same time, Saad al-Shami also said that the country's authorities continue daily contacts with the IMF and hope to achieve progress. This requires restructuring the banking sector, balancing fiscal policy, unifying the exchange rate, and making changes in monetary policy to bring the current rate of inflation down. 05.04.2022
