Distribution of financial losses: Final touches to the project, but uncertainties persist

After years of waiting, the executive branch is putting the final touches to the draft law on “financial cleanup and deposit restitution” — better known as the “financial hole law” — which is to be submitted to the Cabinet for adoption before the end of the year, in line with repeated pledges by Prime Minister Nawaf Salam.But, as is often the case in Lebanon, setting a timetable does not dispel the uncertainty surrounding the text, as several draft versions have circulated on social media in recent days, but not the latest, according to information obtained by L'Orient-Le Jour.Several provisions could still change depending on comments from stakeholders — first and foremost the Banque du Liban (BDL, central bank) and the Ministry of Finance — while keeping one imperative in mind: “at least obtain a greenlight in principle from the...