Economist Elie Yachoui believed that the year 2022 lacked real and fundamental achievements that would aid a relatively exit from the rampant financial crisis in Lebanon.
In statements to the “Sputnik” agency, Yachoui said: “Unfortunately, nothing important has been achieved.” that external lending is precluded.
He added: “Therefore, we have only one avenue left to get back to being financially exposed to the outside, which is the International Monetary Fund. During 2022, there has been no progress with the fund, which means we had to conclude this question within two months to expose himself again to the external financial world, but this has not happened”.
At the level of the banking sector, Yachoui stressed that “nothing has happened to the sector, no recapitalization, which means pumping in new cash capital, no mergers, no financial purification, no liquidation, never, nothing has been implemented.”
Yachoei believed that “the banking sector is a metaphor for an industry that applies unconstitutional circulars issued by the Central Bank, because all these circulars affect the sanctity of individual property. The same is true for Capital Control. This law is required by the IMF, and so far there is confusion, hesitation and groping by the House of Representatives.” In this regard, nothing has been issued at this level.
However, Yachoei considered that “platform banking is a financial crime and a source of illegal profits.” He concluded: “Circulars are robbing us, banks are stealing what is left of them as balances in the central bank, and merchants are stealing our dollars because of the high cost of living and 80% of our money.” Lebanese have become poor”.
Source: Sputnik
