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
29
o
Bekaa
21
o
Keserwan
29
o
Metn
29
o
Mount Lebanon
23
o
North
30
o
South
28
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Yoga
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
29
o
Bekaa
21
o
Keserwan
29
o
Metn
29
o
Mount Lebanon
23
o
North
30
o
South
28
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
Bankrupt government: Lebanon faces dire shortage of dollars for salaries and necessities
News Bulletin Reports
2023-08-06 | 11:17
High views
Share
Share
3
min
Bankrupt government: Lebanon faces dire shortage of dollars for salaries and necessities
All state departments and institutions have been notified that no salaries are available in dollars at the end of the month.
The government is bankrupt, and the bigger problem is that the situation has left the government without the necessary funds to cover essential expenses like medicines, fuel, food for the army, internet, and other expenses in dollars.
The decision to suspend the Banque du Liban (BDL) funding to the government is irreversible, according to deputy governors, unless a law authorizing borrowing is adopted.
Over the past week, the government and MPs have been tossing the responsibility for the law back and forth, with no clear consensus on whether it should be a government draft law or a proposal law presented by ten MPs.
The Prime Minister said he tasked the Finance Minister to consult with the deputy governors on the draft law this week.
However, since the discussions with the ministry have not started yet, dialogue will likely require more time.
The Finance Ministry is preparing for intensive meetings next week to reach a specific formula that will be presented to the government.
Meanwhile, deputy governors have taken a firm stance, declaring they are not concerned with the loan amount, duration, or distribution as their demands are limited to two main points.
First, there must be a clear and convincing mechanism for the government to repay the loan, with deputy governors proposing reforms such as improving tax collection and cracking down on tax evasion and smuggling.
The second point is that the loan contract should be subject to suspension at any time by the Central Council of the BDL if officials fail to enact the reform laws within the timeframe set in the deputy governors' recovery plan, which starts with correcting and adopting the 2023 budget and passing the Capital Control Law by the end of August.
Nonetheless, deputy governors are not optimistic about the legislative process.
According to sources of Wassim Mansouri, the acting governor of the BDL, Lebanese officials seem to have forgotten about reforms. They are stalling the law's adoption, debating whether it will be a draft or proposed law, even though reforms are more important than any amount of money or law.
In conclusion, as the first week of August ends, there is still no clear solution to the law, and time is running out for salaries due in September.
Lebanon News
Lebanon Economy
News Bulletin Reports
Bankrupt
Government
Lebanon
Face
Dire
Shortage
Dollars
Salaries
Necessities
Next
Bekaa Valley: A new 'frontline' in Israel's target list
The Iranian Response: Awaiting Retaliation Amidst Escalating Tensions
Previous
Recommended For You
d-none hideMe
0
News Bulletin Reports
13:08
Securing nomination: Can Harris secure Michigan delegates for Democratic nomination?
News Bulletin Reports
13:08
Securing nomination: Can Harris secure Michigan delegates for Democratic nomination?
0
News Bulletin Reports
13:06
Netanyahu's conditions: Israel and Hamas struggle to overcome deadlock in ongoing negotiations
News Bulletin Reports
13:06
Netanyahu's conditions: Israel and Hamas struggle to overcome deadlock in ongoing negotiations
0
News Bulletin Reports
13:05
War resolution: Netanyahu confronted with ceasefire demands in talks with US leaders
News Bulletin Reports
13:05
War resolution: Netanyahu confronted with ceasefire demands in talks with US leaders
0
News Bulletin Reports
2024-07-25
Border negotiations: Lebanon’s coordinated efforts for long-term border stability
News Bulletin Reports
2024-07-25
Border negotiations: Lebanon’s coordinated efforts for long-term border stability
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
Middle East News
2024-06-15
Israeli army: Explosive drones from Lebanon caused fire in Western Galilee; no injuries reported
Middle East News
2024-06-15
Israeli army: Explosive drones from Lebanon caused fire in Western Galilee; no injuries reported
0
World News
2024-07-19
Belarus sentences German man to death: Rights group
World News
2024-07-19
Belarus sentences German man to death: Rights group
0
Israel-Gaza War Updates
2024-07-01
Netanyahu says Israel's nearing 'eradication' of Hamas' military capabilities
Israel-Gaza War Updates
2024-07-01
Netanyahu says Israel's nearing 'eradication' of Hamas' military capabilities
0
Lebanon News
10:42
US President Biden issues deferred enforced departure for Lebanese nationals, protecting them from deportation for 18 months
Lebanon News
10:42
US President Biden issues deferred enforced departure for Lebanese nationals, protecting them from deportation for 18 months
Videos
d-none hideMe
0
World News
2024-07-21
Full Transcript: Trump's Coordinator of Arab Relations Discusses Plan to Win Arab Voters and Achieve Peace
World News
2024-07-21
Full Transcript: Trump's Coordinator of Arab Relations Discusses Plan to Win Arab Voters and Achieve Peace
0
Lebanon News
2024-07-18
Two dead in Israeli airstrike on Jmeijmeh, south Lebanon (Video)
Lebanon News
2024-07-18
Two dead in Israeli airstrike on Jmeijmeh, south Lebanon (Video)
0
Lebanon News
2024-07-11
Hezbollah's Ibrahim Moussawi to CNN: Regional powers do not seek full-scale conflict
Lebanon News
2024-07-11
Hezbollah's Ibrahim Moussawi to CNN: Regional powers do not seek full-scale conflict
0
Lebanon News
2024-07-09
Hezbollah’s "Hudhud" shows new footage of Israeli sites
Lebanon News
2024-07-09
Hezbollah’s "Hudhud" shows new footage of Israeli sites
0
Lebanon News
2024-06-18
Hezbollah scouts areas in northern Israel: What the hoopoe came back with (Video)
Lebanon News
2024-06-18
Hezbollah scouts areas in northern Israel: What the hoopoe came back with (Video)
0
Lebanon News
2024-06-12
Over 100 rockets launched from southern Lebanon toward northern Israel (Video)
Lebanon News
2024-06-12
Over 100 rockets launched from southern Lebanon toward northern Israel (Video)
0
Lebanon News
2024-06-10
Video shows Israeli drone downing in Iqlim al-Tuffah, South Lebanon
Lebanon News
2024-06-10
Video shows Israeli drone downing in Iqlim al-Tuffah, South Lebanon
0
Middle East News
2024-05-21
Funeral ceremony of the Iranian president begins in Tabriz (Video)
Middle East News
2024-05-21
Funeral ceremony of the Iranian president begins in Tabriz (Video)
0
Lebanon News
2024-05-14
Exclusive LBCI interview: Canadian FM urges ceasefire and Resolution 1701 adherence in Lebanon talks, discusses Canadian support for LAF, UNIFIL
Lebanon News
2024-05-14
Exclusive LBCI interview: Canadian FM urges ceasefire and Resolution 1701 adherence in Lebanon talks, discusses Canadian support for LAF, UNIFIL
Most read
d-none hideMe
24 hours
7 days
Month
1
Lebanon News
10:32
The Countdown Is On! Summer's Most Awaited Event: Miss Lebanon, Live Tomorrow at 8:30 PM on LBCI and lbcgroup.tv
Lebanon News
10:32
The Countdown Is On! Summer's Most Awaited Event: Miss Lebanon, Live Tomorrow at 8:30 PM on LBCI and lbcgroup.tv
2
Lebanon News
10:42
US President Biden issues deferred enforced departure for Lebanese nationals, protecting them from deportation for 18 months
Lebanon News
10:42
US President Biden issues deferred enforced departure for Lebanese nationals, protecting them from deportation for 18 months
3
Lebanon News
11:33
US President Biden’s deferred enforced departure for Lebanese nationals is not an indication of imminence of further escalation
Lebanon News
11:33
US President Biden’s deferred enforced departure for Lebanese nationals is not an indication of imminence of further escalation
4
Lebanon Economy
02:19
Fuel prices decrease in Lebanon
Lebanon Economy
02:19
Fuel prices decrease in Lebanon
5
World News
06:12
Airport at Franco-Swiss border evacuated for 'security reasons'
World News
06:12
Airport at Franco-Swiss border evacuated for 'security reasons'
6
News Bulletin Reports
13:05
War resolution: Netanyahu confronted with ceasefire demands in talks with US leaders
News Bulletin Reports
13:05
War resolution: Netanyahu confronted with ceasefire demands in talks with US leaders
7
News Bulletin Reports
13:06
Netanyahu's conditions: Israel and Hamas struggle to overcome deadlock in ongoing negotiations
News Bulletin Reports
13:06
Netanyahu's conditions: Israel and Hamas struggle to overcome deadlock in ongoing negotiations
8
News Bulletin Reports
13:08
Securing nomination: Can Harris secure Michigan delegates for Democratic nomination?
News Bulletin Reports
13:08
Securing nomination: Can Harris secure Michigan delegates for Democratic nomination?
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