Lebanese Prime Minister: Statement about Lebanon’s bankruptcy “Fragmented” – The Peninsula

Lebanese Prime Minister: Statement about Lebanon’s bankruptcy “Fragmented” – The Peninsula

Lebanese Prime Minister Najib Mikati underlined that the statement about "Lebanon's bankruptcy" was "fragmented".

Mikati said in a statement reported by the Information Office that the statement of Lebanese Deputy Prime Minister Saadeh Al Shami regarding the declaration of Lebanons bankruptcy was fragmented, and that he meant liquidity, not solvency.

For his part, Lebanon Central Bank Governor Riad Salameh denied that the institution was bankrupt and said it was still going about its legally-mandated role despite losses in the financial sector.

"What is being circulated about the bankruptcy of the central bank is not true. The bank was still going about its legally-mandated duties under article 70 of the money and credit law, which states the bank is entrusted with preserving the integrity of the Lebanese currency and maintaining economic stability," Salameh said.

In a related context, Dr. Anis Abu Diab, a member of the Lebanese Economic and Social Council, confirmed to Qatar News Agency (QNA) that Lebanon is faltering in repaying its debts but is not a bankrupt country because it possesses financial assets such as gold and vital facilities such as the airport, the port and the central bank, indicating that it is not within the powers of the Deputy Prime Minister