A newspaper reveals those responsible for concealing warnings about the economic disaster in Lebanon before it occurs

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Today, Thursday, Swiss media revealed who was directly responsible for concealing information and reports warning of an economic and financial catastrophe in Lebanon.

The Swiss newspaper, Le Temps, reported that the Central Bank of Lebanon and its governor, Riad Salameh, crossed out 14 pages of a report dating back to the International Monetary Fund in 2016 warning of the disaster that befell Lebanon three years later.

The newspaper said that it had obtained a document about a meeting that took place between a team from the International Monetary Fund headed by its representative in Lebanon “Alvaro Pearce” and the Governor of the Lebanese Central Bank, Riad Salameh, and a number of other officials in the Lebanese Bank on April 9, 2016.

According to the newspaper, the document stated that “the representative of the Monetary Fund opened his conversation with Salameh by saying: “You are on the edge of the abyss.” And the documents of the report prepared by the Financial Sector Assessment Program (FSAP) at the Monetary Fund showed their findings and proved that the net deficit of the Central Bank It has a deficit of $4.7 billion, which represents 10% of GDP.

She also indicated that local banks do not have the necessary liquidity to face a potential crisis.

The Swiss newspaper said that this information might have allowed to reduce the tragedy that Lebanon has been going through since 2020, the worst since the Lebanese war between 1975 and 1990, as the poverty rate decreased from 28% to 55% in one year, and 6 million Lebanese were deprived of Access to their bank accounts, and in the presence of a shortage of oil and medicine, and yet “a bank and its governor succeeded in removing the basic data from the report.”

Source

newspaper reveals responsible concealing warnings economic disaster Lebanon occurs

 
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