Lebanon Asks IMF for Help in Restructuring Debt / Lebanon's Financial Dilemma

Robin Hood

Robin Hood

Legendary Member
Orange Room Supporter
HA doesn't trust the IMF given its ties to the US.
Sheikh Naem Qassem only supports them advising us.
 
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  • Dr. Strangelove

    Dr. Strangelove

    Nuclear War Expert
    Staff member
    "رويترز" نقلاً عن مصدر حكومي: لبنان يعتزم طلب فترة سماح 7 أيام في السندات الدولية استحقاق 9 آذار لإعطاء المستشارين وقتاً إضافياً لصياغة خطة إعادة هيكلة
    MTV
     
    dyyyy

    dyyyy

    Well-Known Member
    [...]
    A role play to understand Net Reserves depletion
    Now imagine a $50 bottle of whiskey, crafted by Baal’s French mistress, catches Mr Phoenicia’s eye:

    • He rushes to buy it, grasping onto his last LBP75,000.
    • He arrives at Bank A, out of breath, hands his liras to his favorite teller begging him to transfer them to Baal’s mistress in Bank B.
    • Unfortunately, the mistress and Bank B won’t accept the liras.
    • The teller tells him about Bank A’s kindest service: exchanging his liras for $. Mr Phoenicia quickly accepts the offer, thanking Bank A and the stability of the lira, and asks to transfer $50 to France (cause **** the euro).
    • What the hell does Bank A with LBP and how does it get the $50 back that actually belong to Mr Phoenicia‘s responsible sister?
    • They run to their favorite Central Bank that promised Bank A it would always buy its liras in exchange for $ at a fixed rate.
    • The Central Bank dips into its gross reserves, credits Bank As account $50 & reduces the Lira account by LBP75,000
    • Bank A then transfers the $50 to France, through the Central Bank.
    The Central Bank Currently has $50 in its current account abroad, while it still owes $100 to Bank A.

    What happens now in the role play?
    Now imagine Mr Phoenicia‘s responsible sister decides to transfer $50 from her account to her son studying in Sorbonne:

    • Bank A asks the Central Bank to transfer $50 from its account to France (the kid likes dollars too).
    • The Central Bank dips into its gross FX reserves again and transfer $50 to the kid’s bank account.
    No problem, it’s not like there’s nothing left as long as Bank A keeps its other $50.

    Then Mr Badde Mosriyyete asks to transfer $50 from his account at Bank A to his account in Cyprus, where he likes to spend his lira salary, after exchanging them for dollars, every two weeks.

    • Bank A rushes back to the Central Bank asking for the transfer, the Central Bank flips it off.
    • Mr Badde Mosriyyete rages at Bank A demanding to transfer his money, Bank A flips him off.
    • Then Mr Bade Mosriyyete and his cousins rush the streets asking for their money, Bank A and its colleagues flip them off.
    All they have is hope they’d accept those useless liras instead, at the same rate they could buy the dollar in the good old yesterday.

    That’s negative net reserves. The only way for them to turn positive again is if its FX debt disappears or if it’s exchanged for liras.

    The above are only simple ways of how it depletes.
    [...]
     
    TayyarBeino

    TayyarBeino

    Legendary Member
    ]
    20:25

    رئيس جمعية المصارف سليم صفير لـ "بلومبرغ": الحل الأفضل لتسديد المستحقات هو استبدال سندات اليوروبوند والمباشرة بإصلاحات فورية من أجل تنقية المالية العامة واستعادة ثقة المستثمرين المغتربين

    Lebanese Banks Hold Line Against Default, Urge Bond Swap Instead

    [/TD]
     
    TayyarBeino

    TayyarBeino

    Legendary Member
    الوزير الحقيقي يتدخل والوزير الواجهة صامت والهدف: تثبيت القائم | هل ينقذ عون ونصرالله الحكومة من باب السياسات المالية؟
     
    Dr. Strangelove

    Dr. Strangelove

    Nuclear War Expert
    Staff member
    لبنان ابدى رغبته بفترة سماح لمدة ٧ ايام كمرحلة تفاوضية مع الدائنين حملة السندات باطار اعادة الهيكلة
    OTV
     
    SoFP1

    SoFP1

    The Chosen One
    Orange Room Supporter
    Did the prime minister say that the gov will take a decision regarding payment or Eurobonds, this Friday, the 6th of March, the last business day before payment is due on Monday the 9th?
     
    SeaAb

    SeaAb

    Legendary Member
    Staff member
    Super Penguin
    Did the prime minister say that the gov will take a decision regarding payment or Eurobonds, this Friday, the 6th of March, the last business day before payment is due on Monday the 9th?
    I think they asked for a 7 day extension, if i recall correctly.
     
    HannaTheCrusader

    HannaTheCrusader

    Legendary Member
    Orange Room Supporter
    A.S.S. cant espacpe the IMF OR similar thing

    its up to them
    they can burn the nation and yet still have to submit to IMF

    GENERAL AND GB WARNED THESE MF many times

    steal less
    they refused

    now the chichen coming home to roost

    to each and evety
    souwagh
    14
    8

    la tesh7ado al emle7
     
    HannaTheCrusader

    HannaTheCrusader

    Legendary Member
    Orange Room Supporter
    Bill Nizzam
    ·

    المرفأ ، اوجيرو، مجلس الانماء والاعمار، طيران الشرق الاوسط ، سوليدير، سوكلين وبلدية بيروت وشركات التعهدات والهيئة العليا للاغاثة وعشرات المواقع في الجمهورية
    تم التعاطي معها من التسعينات على انها محميات طائفية يمنع المس بها وحصنت بدرع مظلومية الطائفة ورفضت اي حكومة البحث بضبطها
    واي محاولة لتصحيح اوضاعها جرى منعها تحت حجة الاستهداف السياسي والطائفي.
    للحريري الذي يهاجم الكهرباء ، النهج التي اتبعته الحريرية بتقديس مواقعها في النظام اوصلنا الى هنا
    #بيت_العنكبوت
     
    SoFP1

    SoFP1

    The Chosen One
    Orange Room Supporter


    -بنك عودة
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    -فرنسبنك
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    -الشركة الجديدة لبنك سوريا ولبنان
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