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Does Lebanon Need Treasury Single Account for Transparency

Rafidi

Legendary Member
On observing how the Lebanese government and Lebanese society function closely, there is zero transparency, especially when it comes to finance and the economy. The economy and its revenues (public funds) and expenditures are treated in secrecy. Are there released or stated figures? I doubt.

Among some IMF Research papers I have come across centered around fighting corruption is the concept of countries adopting a Treasury Single Account (TSA). A number of countries wrecked by corruption have applied the TSA thus far.

You can read more on the concept here:


Treasury Single Account means all government revenues and expenditures, both stating from whom and to whom respectively are identified/recorded/stated/transmitted/released. This means that a single treasury account would ensure all the revenues that government generates (which are actually public funds and not the money which belong to politicians) go into a single account. All the expenditures made will also come from that account. The people will get to know what is being spent on, for what, where, how much and to whom. All monies for government, whether involving traffic violations, taxes or electricity bills will go into that single account. Different ministries and government agencies and parastatals will not operate independently using different accounts or multiple accounts which would make it harder for auditing and accountability.

I want to ask if the average Lebanese knows about the following:

1. How much money comes into government coffers annually and from which sources?

2. Do we have published figures?

3. What is the total revenue generation annually that comes into the accounts of the Lebanese government?

4. What agencies, arms of government or sectors of the economy give money (revenue) to the Lebanese government?

5. Do we know of how the money is spent and where and when and how much? Or is everything done in a hush hush manner and are all receipts (if they exist at all) swept under the carpet?

6. In what accounts are monies belonging to the Lebanese government (public funds) kept and do we know how much is in them?

7. There was news recently that the central bank governor refused or hesitated to release figures to the new PM and the president made a sarcastic comment that the PM hasn't seen anything. Why is such mess allowed to continue unhindered? Is the central bank our problem?

I think for any new loans, foreign aid and Lebanese expats to rebuild their trust in a future Lebanese economy and invest in it in the near future, there is need for everyone to know of every dime that comes in and of every dime that goes out and to where/who. I expect foreign countries and bodies to make this TSA a condition for Lebanon to receive financial bailout from it's currency crisis.
 

Orangina

Legendary Member
On observing how the Lebanese government and Lebanese society function closely, there is zero transparency, especially when it comes to finance and the economy. The economy and its revenues (public funds) and expenditures are treated in secrecy. Are there released or stated figures? I doubt.

Among some IMF Research papers I have come across centered around fighting corruption is the concept of countries adopting a Treasury Single Account (TSA). A number of countries wrecked by corruption have applied the TSA thus far.

You can read more on the concept here:


Treasury Single Account means all government revenues and expenditures, both stating from whom and to whom respectively are identified/recorded/stated/transmitted/released. This means that a single treasury account would ensure all the revenues that government generates (which are actually public funds and not the money which belong to politicians) go into a single account. All the expenditures made will also come from that account. The people will get to know what is being spent on, for what, where, how much and to whom. All monies for government, whether involving traffic violations, taxes or electricity bills will go into that single account. Different ministries and government agencies and parastatals will not operate independently using different accounts or multiple accounts which would make it harder for auditing and accountability.

I want to ask if the average Lebanese knows about the following:

1. How much money comes into government coffers annually and from which sources?

2. Do we have published figures?

3. What is the total revenue generation annually that comes into the accounts of the Lebanese government?

4. What agencies, arms of government or sectors of the economy give money (revenue) to the Lebanese government?

5. Do we know of how the money is spent and where and when and how much? Or is everything done in a hush hush manner and are all receipts (if they exist at all) swept under the carpet?

6. In what accounts are monies belonging to the Lebanese government (public funds) kept and do we know how much is in them?

7. There was news recently that the central bank governor refused or hesitated to release figures to the new PM and the president made a sarcastic comment that the PM hasn't seen anything. Why is such mess allowed to continue unhindered? Is the central bank our problem?

I think for any new loans, foreign aid and Lebanese expats to rebuild their trust in a future Lebanese economy and invest in it in the near future, there is need for everyone to know of every dime that comes in and of every dime that goes out and to where/who. I expect foreign countries and bodies to make this TSA a condition for Lebanon to receive financial bailout from it's currency crisis.

Unfortunately we think we know about it...but the truth we know nothing about all this...
 
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