The entrance to the Association of Banks in Lebanon in Beirut. (Credit: NNA archives)
As intense negotiations continue over the government’s plans to address Lebanon’s financial gap and restructure the banking sector, the State Council has once again stirred the debate.Last month, the country’s highest administrative court rejected a government appeal against its landmark Feb. 6, 2024 ruling, which struck down one of the provisions of former Prime Minister Najib Mikati’s economic recovery plan. That provision reclassified certain obligations owed by Banque du Liban (BDL) to commercial banks. More from Claude Betarabia case: Casino du Liban former director, OSS CEO cleared of public funds embezzlement Article 3 of the proposal, approved by the Cabinet in May 2022 but never adopted by a parliamentary committee, sought to reduce the deficit on BDL’s balance sheet by allowing the state not to repay part of the foreign...
As intense negotiations continue over the government’s plans to address Lebanon’s financial gap and restructure the banking sector, the State Council has once again stirred the debate.Last month, the country’s highest administrative court rejected a government appeal against its landmark Feb. 6, 2024 ruling, which struck down one of the provisions of former Prime Minister Najib Mikati’s economic recovery plan. That provision reclassified certain obligations owed by Banque du Liban (BDL) to commercial banks. More from Claude Betarabia case: Casino du Liban former director, OSS CEO cleared of public funds embezzlement Article 3 of the proposal, approved by the Cabinet in May 2022 but never adopted by a parliamentary committee, sought to reduce the deficit on BDL’s balance sheet by allowing the state not to repay part of the...
