Lebanon declares bankruptcy_ central bank governor denies
Lebanon's Deputy Prime Minister Saadeh al-Shami has announced the bankruptcy of the state and the Central Bank of Lebanon. Although_ Lebanon Central Bank Governor Riad Salameh denied the claim.
In statements to the Saudi channel al-Arabiya on Monday_ Saadeh said that the losses would be distributed to the state_ the Banque du Liban_ banks and depositors.
"There is no conflict of views about distribution of losses_" Deputy Prime Minister said.
The country has been suffering from serious economic crisis since October 2019. The collapse has thrown more than three fourth of the country s population into poverty.
The Lebanese lira has lost around 90 percent of its value. Banks imposed informal capital controls_ depositors were deprived of withdrawing money.
Denying Deputy Prime ministers statement_ Central Bank Governor Riad Salameh said on Monday_ that the institution he has led for 30 years was still going about its legally-mandated role.
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