1.A short thread about latest drama surrounding proposed forensic audit of #Lebanon’s Central bank, also known as BDL. 2.A rundown of events is the following: Current lame duck cabinet had hired Alvarez & Marsal to conduct a forensic audit of the Central Bank where a lot of indiscretions are alleged to have occurred over past […]
Category Archives: Lebanon
Lebanon’s recovery from its economic maladies lies with its corrupt leaders who got it there in the first place. They must enact reforms in the interest of self-preservation
المقال بالعربي Ever since the October 17th protests last year and the subsequent resignation of the last Hariri government, Lebanon has been going through one economic and financial crisis after the other. Be it a deep economic recession that was followed by an even worse banking liquidity crisis that culminated in Lebanon’s first ever default […]
Options For Depositors in Lebanese Banks
Given the banking, currency, and debt crises in #Lebanon, below is a thread about various options for depositors in Lebanese banks. This is by no means personal advice or recommendations – just a basic analysis of the different options. The basic problem is that majority of deposits are denominated in USD. Banking system is out […]
A Case For Regulators Seizing Lebanon’s Banks
A case for seizing Lebanon’s banks. A twitter thread published December 24, 2019 1. #Lebanon is undergoing a massive financial crisis on a scale that rivals that of Greece & Cyprus. Its worst manifestation is a banking crisis that has shut out depositors from accessing their paychecks. See @EHSANI22, @lebfinance, @AndyKhalil1 & @wael_atallah for background […]