Covid-19 Update
- 5 new cases, 663 cases, 86 recoveries, 21 deaths
- Following the cabinet's meeting on Thursday, the government authorized the payment of LL 450 billion owed to hospitals. Lebanon's hospitals, which have been suffering due to the dollar shortage and the state's lack of payment, continue to set off alarm bells regarding the country's struggling healthcare. Foreign Minister Nassif Hitti announced that the second phase of repatriation will begin after April 26. Over 2,300 Lebanese have been repatriated since April 5, while approximately 20,000 remain stuck outside Lebanon.
Did the Prime Minister Lie?
- Minister Hassan Diab in a Conversation with Journalists: "We did not bring up the issue of "haircuts" in all our released statements."
- The government's economic plan explicitly states that $62.4 billion of estimated losses will be covered by an "exceptional contribution" from large depositors, with the parameters to be determined. The plan also includes a section titled, "How to compensate depositors?" Within this, two options are presented: either the deposits are converted into their bank's capital, or parts of the deposits are invested in the dedicated deposit recovery fund, which will be financed by proceeds from state assets and the recovery of stolen funds. If this not a haircut, then what is?
REPOSTED FROM @Megaphonenews