It looks like Diab’s government is on its way to score another “fake” victory as they’re celebrating the decision to audit the BDL as a “historic decision for Lebanon”, and I quote “will mark a radical change to reveal overspending and theft”. We all want a forensic audit, one that includes all institutions not just the BDL, an audit that shows the amount of corruption in all ministries and governmental agencies and tells us why our debt has been increasing exponentially.
Anything else is a waste of time and money, and the criteria upon which the government based itself to select the auditing companies is a clear proof of that. They dumped Kroll, a company specialized in forensic audit, claiming they have offices in Israel, which they don’t, and picked instead:
– Alvarez & Marsal, whose director is a Tel Aviv University graduate.
– KPMG, which has offices in Israel and Lebanon.
– Oliver Wyman, which also has offices in Israel.
If the criteria were to opt out any companies with offices in Israel or in Lebanon (conflict of interest), how do they explain the above selection then? Added to that, Alvarez & Marsal is not specialized in conducting forensic audits from what I heard, so why not pick Kroll?
In all cases, and as mentioned above, this is yet another waste of our time and money (fresh dollars specifically), and from the looks of it, a means to get to the IMF through an official report because we can’t seem to agree on which numbers to present.
In the mean time, hyperinflation is still happening, Lebanon’s central bank boosted its accounts by $6 billion to disguise the huge losses endured, “unofficial” capital control is taking place, COVID-19 is out of control, more businesses are shutting down by the day, we still don’t have electricity, we might face an internet outage due to lack of fuel, and the PM is using a helicopter for his visits within Lebanese territory.