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In an interview with the British Financial Times on Sunday, Nima clarified that the criminal investigation will be carried out by one of the three companies chosen last April, namely KBMG, Kroll and Oliver Weiman, from Unconfirmed which would actually lead to It conducts the audit, adding that the auditor “will examine everything that is happening” to understand the activities of the central bank.
The prime minister considered, at the end of last month, that “there is a suspicious ambiguity in the performance of the governor of the Bank of Lebanon”, and noted that the bank “cannot or is inactive due to a decision or instigates this suspected deterioration” of the Lebanese monetary and monetary situation.
But the governor of the Banque du Liban responded by reviewing the figures indicating that the central bank is not responsible for the monetary and financial crisis, but rather the performance of the government, state spending and the payment of more than $ 4 billion for imports from unknown destinations.
“The central bank financed the state, but it was not he who disbursed the money, and here we must know how it was disbursed. The state and the constitutional and administrative institutions have the task of revealing how to spend,” Salameh said at a press conference on April 29.
Lebanon has suffered a severe financial crisis in recent months that led to its inability to pay huge foreign currency debts for the first time and to start restructuring talks in late March.
The economic consequences of measures to combat the outbreak of the Corona virus exacerbated the country’s weak currency problems, declining reserves, and high inflation.
The government formally requested assistance from the International Monetary Fund, after adopting a financial and economic program that it considered reformist. Kristalina Georgieva, fund manager, announced in early May that she was in talks with the Lebanese prime minister about the economic recovery plan.
“We agree that our teams will soon begin discussions on the much-needed reforms to restore sustainability and growth for the benefit of the Lebanese people,” he wrote in a Twitter post on Tuesday.
One of the main pillars of the plan depends on covering the losses of the state’s financial sector in some seventy billion dollars, saving the shareholders of the banks and the central bank, and the liquidity of the main depositors. While the Association of Banks in Lebanon said it could not agree “in any way” on a plan that was not consulted.
Lebanon has become one of the most indebted countries in the world, with a public debt that exceeds 170 percent of GDP. With the decline in the Central Bank’s reserves, long considered the godfather of the lira’s stability since 1997, the characteristics of the accelerated collapse began almost a year ago with an acute liquidity crisis and a shortage of dollars.
Since the end of last summer, banks have imposed restrictions to withdraw the dollar and transfer money. This coincided with the collapse of the lira, whose exchange rate against the dollar touched the threshold of four thousand on the black market this month, while the official price is set at 1507 pounds.
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