News
Latest News
news bulletin
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
22
o
Mount Lebanon
21
o
Metn
22
o
Keserwan
22
o
North
23
o
South
21
o
Bekaa
26
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Law Ma LTa2ayna
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
22
o
Mount Lebanon
21
o
Metn
22
o
Keserwan
22
o
North
23
o
South
21
o
Bekaa
26
o
News
Programs
The News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Documentaries
Lebanon’s Centennial
News Bulletin
The Untold History
Talk Show
Series
Sports
Variety
Other
Comedy
Oldies
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
Lebanon depletes IMF SDR funds, leaving municipal elections unfunded
News Bulletin Reports
2023-04-03 | 08:51
High views
Share
Share
2
min
Lebanon depletes IMF SDR funds, leaving municipal elections unfunded
In 2021, Lebanon received $1.139 billion in Special Drawing Rights (SDR) from the International Monetary Fund (IMF). According to reports, the entire amount has been spent, leading to a decision not to fund municipal elections from these funds. Instead, the Lebanese Parliament was approached to secure the necessary financing.
Sources suggest that part of the SDR funds was also used by the Central Bank of Lebanon to intervene in financial markets, particularly given a decision to avoid touching mandatory employment or mandatory reserves. Any violation of this decision could result in legal prosecution.
Insiders at the Central Bank of Lebanon claim that the Ministry of Finance is aware of the actual amount spent from the SDR funds but remains secretive about the figures. The Central Bank reportedly sends clear documentation of the withdrawn amounts and their usage to the Ministry, with disbursements occurring only after the Ministry of Finance and the Prime Minister's approval.
While other reports indicate that over $700 million has been spent from the SDR funds so far, it is worth noting that SDR figures are listed as part of the Central Bank of Lebanon's foreign currency assets. These assets appear in the Central Bank's biweekly balance sheet without specific details related to spending.
The Central Bank's balance sheet from mid-March showed that reserve assets, or what is known as the mandatory reserve, amounted to $9.44 billion, recording a decline of approximately $709 million since the beginning of the year. The decline in reserves from mid-March 2022 to mid-March 2023 reached $2.1 billion.
Lebanon News
Lebanon Economy
News Bulletin Reports
Lebanon
IMF
International Monetary Funds
Deplete
Leaving
Municipal
Elections
Unfunded
Next
The Iranian Response: Awaiting Retaliation Amidst Escalating Tensions
Recommended For You
d-none hideMe
0
News Bulletin Reports
12:24
US vetoes UN resolution: Will Palestine eventually attain the right of full UN membership?
News Bulletin Reports
12:24
US vetoes UN resolution: Will Palestine eventually attain the right of full UN membership?
0
News Bulletin Reports
12:23
Israeli response to Iranian attack: Strikes on Isfahan airbase
News Bulletin Reports
12:23
Israeli response to Iranian attack: Strikes on Isfahan airbase
0
News Bulletin Reports
12:22
High alert: Israel cautious after Iranian attack
News Bulletin Reports
12:22
High alert: Israel cautious after Iranian attack
0
News Bulletin Reports
12:21
Safe zones in Syria: Lebanon and Cyprus confront the ongoing Syrian refugee crisis
News Bulletin Reports
12:21
Safe zones in Syria: Lebanon and Cyprus confront the ongoing Syrian refugee crisis
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
News Bulletin Reports
2024-04-16
Iranian weapons: Missiles and drones used in the attack on Israel
News Bulletin Reports
2024-04-16
Iranian weapons: Missiles and drones used in the attack on Israel
0
Lebanon News
2024-02-29
UNRWA Director in Lebanon briefs Palestinian Ambassador on financial challenges and relief efforts
Lebanon News
2024-02-29
UNRWA Director in Lebanon briefs Palestinian Ambassador on financial challenges and relief efforts
0
Israel-Gaza War Updates
09:38
Abbas: Palestinians to reconsider US ties after veto of bid for full UN membership
Israel-Gaza War Updates
09:38
Abbas: Palestinians to reconsider US ties after veto of bid for full UN membership
0
Israel-Gaza War Updates
04:30
Gaza Health Ministry: 34,049 Palestinians killed in Israeli attacks since Oct. 7
Israel-Gaza War Updates
04:30
Gaza Health Ministry: 34,049 Palestinians killed in Israeli attacks since Oct. 7
Videos
d-none hideMe
0
Lebanon News
2023-12-11
Breaking: Israel launches raid north of Litani on Monday (Video)
Lebanon News
2023-12-11
Breaking: Israel launches raid north of Litani on Monday (Video)
0
Lebanon News
2023-11-02
Exclusive to LBCI: U.S. State Department's Wooster Stresses Lebanon Must Avoid War, Sees Renewed Push for Two-State Solution
Lebanon News
2023-11-02
Exclusive to LBCI: U.S. State Department's Wooster Stresses Lebanon Must Avoid War, Sees Renewed Push for Two-State Solution
0
Lebanon News
2023-10-18
Protests Erupt near US Embassy in Awkar Against Israeli Attacks on Al-Maamadani Hospital in Gaza
Lebanon News
2023-10-18
Protests Erupt near US Embassy in Awkar Against Israeli Attacks on Al-Maamadani Hospital in Gaza
0
Lebanon News
2023-10-05
ATFL's Ambassador Edward Gabriel on Navigating Through Economic, Political, and Refugee Crises
Lebanon News
2023-10-05
ATFL's Ambassador Edward Gabriel on Navigating Through Economic, Political, and Refugee Crises
0
Sports News
2023-08-31
Amir Saoud Powers Lebanon to Victory Over Cote d'Ivoire: A Deep Dive Into The Numbers
Sports News
2023-08-31
Amir Saoud Powers Lebanon to Victory Over Cote d'Ivoire: A Deep Dive Into The Numbers
0
Sports News
2023-08-29
France Edges Past Lebanon in a Nail-Biter at FIBA World Cup 2023: A Statistical Deep Dive
Sports News
2023-08-29
France Edges Past Lebanon in a Nail-Biter at FIBA World Cup 2023: A Statistical Deep Dive
0
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Most read
d-none hideMe
24 hours
7 days
Month
1
News Bulletin Reports
12:21
Safe zones in Syria: Lebanon and Cyprus confront the ongoing Syrian refugee crisis
News Bulletin Reports
12:21
Safe zones in Syria: Lebanon and Cyprus confront the ongoing Syrian refugee crisis
2
News Bulletin Reports
12:20
Refugee crisis at sea: Syrian refugee boats from Lebanon denied entry to Cypriot waters
News Bulletin Reports
12:20
Refugee crisis at sea: Syrian refugee boats from Lebanon denied entry to Cypriot waters
3
Lebanon News
05:40
Joseph Gebeily to LBCI: Lebanese army has crucial role in south Lebanon's stability
Lebanon News
05:40
Joseph Gebeily to LBCI: Lebanese army has crucial role in south Lebanon's stability
4
Middle East News
00:28
Iran to respond at 'maximum level' if Israel acts against its interests, FM says
Middle East News
00:28
Iran to respond at 'maximum level' if Israel acts against its interests, FM says
5
Middle East News
00:10
Iraq's Popular Mobilization Forces post hit in air strike
Middle East News
00:10
Iraq's Popular Mobilization Forces post hit in air strike
6
Lebanon News
11:18
Mikati and General Aoun meet French President Macron
Lebanon News
11:18
Mikati and General Aoun meet French President Macron
7
News Bulletin Reports
12:23
Israeli response to Iranian attack: Strikes on Isfahan airbase
News Bulletin Reports
12:23
Israeli response to Iranian attack: Strikes on Isfahan airbase
8
Israel-Gaza War Updates
10:48
EU imposes sanctions against violent West Bank settlers
Israel-Gaza War Updates
10:48
EU imposes sanctions against violent West Bank settlers
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More