Lebanon’s Minister of Justice Marie-Claude Najm has reportedly requested that State Prosecutor Ghassan Oueidat provides her with all information from the Central Bank’s Special Investigation Commission on alleged Eurobond operations involving multiple Lebanese banks as well as global financial firms.
As reported by the National News Agency, Minister Najm’s request comes in direct relation to media reports alleging that multiple Lebanese banks have placed their bonds under the name of foreign institutions in order to pressure the State to pay the debt.
Lebanon has the world’s third-highest debt to GDP ratio. The financial crisis has been steadily escalating since the end of 2019, with tight capital controls and a currency devaluation already harming purchasing power, import and export, as well as Lebanese people’s livelihoods.
Protests hence continue to spark on and off across the country as protesters are still not satisfied with the currently serving Cabinet, its decisions, or its current political standing, let alone the country’s critical situation.
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