The Central Bank is considering canceling the mandatory reserve reduction



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Home: Reuters published an official source, the Central Bank of the Central Bank is studying the proposal to reduce the mandatory reserve from 15% to 12%, with the aim of continuing to subsidize raw materials and food with the arrival of usable reserves to zero.

Reuters added that the governor of the Central Bank met with the relevant ministers in the interim government on Tuesday, and one of the options under consideration was to reduce the mandatory reserve ratio from 15 percent to around 12 percent or ten percent. ” . This means that the central bank, with government coverage, will use depositors’ money to buy food and raw materials that are already ready. Smuggled into other countries like Kuwait, Turkey and Syria by protected gangs of some influential people.

In total, this process will save between 3 and 3.5 billion dollars and at a rate of 600 million dollars to subsidize imports of fuels, wheat and medicines. The central bank may continue with the subsidy for 5 to several more months, pending a political solution, otherwise the central bank will have to reduce the mandatory reserve again. To buy additional time.

One of the possible (infernal) scenarios is the depletion of all mandatory reserves to subdue Lebanon politically and thus accept it with all international conditions, which can continue until 2022! In light of all this disastrous scenario, it would constitute a total dependence of Lebanon on the global financial system, which could lead to the mortgage of Lebanese resources.

In practice, the political conflict is feeding public opinion and correcting it against the governor of the Banque du Liban, who undoubtedly made mistakes in lending to the Lebanese state, but the state debt of $ 92 billion was spent by the political class. through budgets, so Salameh is expected to bear the repercussions of reducing the reserve requirement.

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