Central Bank Wants to Repay Up To $25,000 To Depositors Starting June 2021

Lebanon's Central Bank issued a statement on Sunday claiming that they're working on a plan with the banks to repay up to $25,000 in "fresh" dollars covering deposits done before Oct 17 2019. The payments will be done in all available foreign currencies and should start by June 30 2021. We all want to believe that this is a good thing, but it's still not clear how the Central Bank will pay back dollars and…

The Proposed Capital Control Law is a Disaster

Ever since the Lira crisis begun, all experts agreed that lawful capital control measures needed to quickly be put in place protect the remaining foreign reserves and avoid further depreciation of the Lebanese Lira. Unfortunately, the only controls that were implemented were arbitrary and illegal ones by banks. As a result, depositors were denied access to their dollars while those with enough "wasta" were able to sneak some money out of the country or their…
Critiques

Over 57 Millions of Captagon Pills Coming From Lebanon Were Seized by Saudi Arabia

1 week ago
Last week, Saudi Arabia decided to issue a ban on all produce coming from Beirut after seizing millions of captain pills hidden inside pomegranates. Few hours later, Saudi’s Center for International Communication shared an infographic ...
Critiques

The Lebanese Authorities Spent Over 400 Million Dollars to “Clean” The Litani River

1 week ago
Over 1000 billion liras were allocated by the Lebanese authorities to clean the Litani River, in addition to consuming a 55 million dollars loan from the World Bank, and the outcome was over 40 tonnes ...
Critiques

Dear France, Entry Restrictions Are Not Sanctions

1 week ago
French Foreign Minister Jean-Yves Le Drian stated yesterday that France is imposing entry restrictions on some Lebanese figures for alleged corruption or for blocking the government formation. French President Macron had already proposed an initiative ...
Critiques

Lebanon Has Two More Days To Preserve its Maritime Rights

1 week ago
Remember that famous campaign that went viral a month ago urging the Public Works Minister to sign Decree No.6433? Well he did end up signing it but the President has refused to sign it claiming ...
Critiques

BDL’s Platform Set to Introduce a Fourth Exchange Rate

2 weeks ago
The long-awaited BDL platform “Sayrafa 2.0” was officially launched last week and is aimed at allowing banks to buy & sell dollars and set up a unified rate that is not subject to any manipulation. ...
Critiques

Lebanon’s Public Debt Has Dropped by Over 80 Billion Dollars

2 weeks ago
Megaphone shared a very interesting report on how Lebanon’s public debt has dropped by over 80 billion dollars since last year, mainly due to two factors: – Eurobond prices have dropped sharply – Lebanese bonds ...
Critiques

70% Of Lebanese Want to Leave Lebanon

3 weeks ago
According to the below Al Jadeed report, immigration has dropped between 2019 and 2020 in Lebanon, but this is due to the pandemic, the travel restrictions as well as the economic crisis in Lebanon. In ...
Critiques

Syndicate of Professional Artists in Lebanon Promoting Censorship

4 weeks ago
The Syndicate of professional artists in Lebanon issued a statement yesterday asking artists not to criticize or disrespect political parties or movements, and religious leaders. According to the statement, artists should work on promoting art ...
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