LBCI

MP Makhzoumi raises concerns over government's draft law to borrow from BDL

01-08-2023 | 10:52

Share

Share

MP Makhzoumi raises concerns over government's draft law to borrow from BDL

MP Fouad Makhzoumi expressed his concerns on Twitter regarding the government's proposed draft law to borrow from the Banque du Liban (BDL) using its mandatory reserves under exceptional circumstances.

According to Article 91 of the Monetary and Credit Law, the BDL is allowed to lend to the government in such situations.

However, Makhzoumi emphasized that the BDL must have surplus reserves and positive budget results. Currently, the reserves amount to $9 billion, indicating a potential deficit and accumulated losses.

Makhzoumi strongly opposed the government's borrowing plan, dismissing it as futile to buy time and mask financial challenges. He urged the Parliament to reject the proposal, warning that it sets a dangerous precedent, as it could deplete the mandatory reserves and the remaining funds of depositors.

Additionally, he raised concerns that bondholders of Eurobonds may demand debt restructuring if Lebanon fails to meet its obligations to repay these bonds.

Lebanon News

MP

Fouad Makhzoumi

Concerns

Government

Draft

Law

Borrow

BDL

Next

Lebanon’s State Security hails troops’ efforts in new year security plan

Recommended For You

A new force for Lebanon's south? The debate over who will monitor the next phase after UNIFIL

News Bulletin Reports

13:01

A new force for Lebanon's south? The debate over who will monitor the next phase after UNIFIL

Ali al-Taher hills: Between military confrontation and surrender scenario

News Bulletin Reports

12:55

Ali al-Taher hills: Between military confrontation and surrender scenario

Lebanon Cabinet approves fees on waste-generating products despite ministerial objections

10:39

Lebanon Cabinet approves fees on waste-generating products despite ministerial objections

Lebanon has not agreed to shortlist of countries that could verify Hezbollah's disarmament: Reuters

08:52

Lebanon has not agreed to shortlist of countries that could verify Hezbollah's disarmament: Reuters

Subscribe to our VOD

SUBSCRIBE

Our visitors readings

US wants Russia, Ukraine to end war by summer: Zelensky

2026-02-07

US wants Russia, Ukraine to end war by summer: Zelensky

Maduro pleads not guilty to drug charges, saying he was 'kidnapped'

2026-01-06

Maduro pleads not guilty to drug charges, saying he was 'kidnapped'

Elias Bou Saab calls for judicial reforms, says amnesty law preserves army families’ rights

2026-05-19

Elias Bou Saab calls for judicial reforms, says amnesty law preserves army families’ rights

Putin calls for immediate halt to Iran conflict

2026-03-07

Putin calls for immediate halt to Iran conflict

Videos

Lebanon-Israel talks: delegations arrive at US Embassy in Rome — Video

2026-08-06

Lebanon-Israel talks: delegations arrive at US Embassy in Rome — Video

Residents begin returning to Zawtar el-Gharbiyeh, southern Lebanon: Video

2026-07-24

Residents begin returning to Zawtar el-Gharbiyeh, southern Lebanon: Video

Slotkin to LBCI: Lebanese army needs resources to confront Hezbollah, $36 million request submitted for special forces

2026-07-20

Slotkin to LBCI: Lebanese army needs resources to confront Hezbollah, $36 million request submitted for special forces

Lebanon’s ambassador to Washington: trilateral framework agreement first step toward restoring sovereignty

2026-06-26

Lebanon’s ambassador to Washington: trilateral framework agreement first step toward restoring sovereignty

Rubio on Lebanon-Israel framework agreement: 'beginning of the beginning,' more work needed

2026-06-26

Rubio on Lebanon-Israel framework agreement: 'beginning of the beginning,' more work needed

Lebanon, Israel sign trilateral framework agreement after Washington talks attended by Rubio: Video

2026-06-26

Lebanon, Israel sign trilateral framework agreement after Washington talks attended by Rubio: Video

Israeli strikes renew on Choukine, Maifadoun, and Nabatieh al-Fawqa in southern Lebanon: Video

2026-06-20

Israeli strikes renew on Choukine, Maifadoun, and Nabatieh al-Fawqa in southern Lebanon: Video

Massive Israeli strikes hit South Lebanon under ceasefire conditions

2026-06-19

Massive Israeli strikes hit South Lebanon under ceasefire conditions

Trump criticizes Israel’s Lebanon campaign, says war has gone on ‘too long’ and floats Syria role in conflict

2026-06-16

Trump criticizes Israel’s Lebanon campaign, says war has gone on ‘too long’ and floats Syria role in conflict

Most read

24 hours

7 days

Month

Lebanon has not agreed to shortlist of countries that could verify Hezbollah's disarmament: Reuters

1

Lebanon has not agreed to shortlist of countries that could verify Hezbollah's disarmament: Reuters

Ali al-Taher hills: Between military confrontation and surrender scenario

2

Ali al-Taher hills: Between military confrontation and surrender scenario

Dispute between Lebanon’s prime minister and defense minister under discussion, sources say

3

Dispute between Lebanon’s prime minister and defense minister under discussion, sources say

Lebanon Cabinet approves fees on waste-generating products despite ministerial objections

4

Lebanon Cabinet approves fees on waste-generating products despite ministerial objections

A new force for Lebanon's south? The debate over who will monitor the next phase after UNIFIL

5

A new force for Lebanon's south? The debate over who will monitor the next phase after UNIFIL

Explosion rocks ammunition factory near Rome

6

Explosion rocks ammunition factory near Rome

Lebanon's defense minister apologizes to martyrs' families, vows to defend army's voice

7

Lebanon's defense minister apologizes to martyrs' families, vows to defend army's voice

Lebanon presidency denies media reports on Aoun-Trump meeting

8

Lebanon presidency denies media reports on Aoun-Trump meeting

Download now the LBCI mobile app

To see the latest news, the latest daily programs in Lebanon and the world

Google Play

App Store

Download now the LBCI mobile app

We use
cookies

We use cookies to make
your experience on this
website better.

Accept

Learn More