SAWT BEIRUT INTERNATIONAL

| 2 October 2022, Sunday |

Will “Capital Control” blow up the parliamentary session on Tuesday?

Under the dome of Parliament, the nation’s deputies will meet next Tuesday at the UNESCO Palace to study and approve an agenda full of thirty bills and proposals, including fourteen repeated urgent proposals. The “Capital Control” law, if it is agreed upon next Monday, in the joint session of the Finance, Budget, Administration and Justice Committees.
According to what was leaked, the sixth article of the law stipulates that all payments and transfers between residents and non-residents are made in Lebanese pounds, with the exception of cases determined by a special committee composed of the Minister of Finance, the Minister of Economy and the Governor of the Banque du Liban and headed by the Prime Minister or his representative, and the decisions prepared by the committee are published. Through circulars issued by the Banque du Liban.
No party has publicly adopted this leaked formula so far, but fingers are directed at the banks that are counting on the approval of the law with this formula.
According to the information, all the parliamentary blocs have seen the notes included by the IMF and informed it in its new form, and there is a tendency to follow it, and therefore there is no escaping the passage of the law, regardless of whether the bank money has flown.

    Source:
  • Sawt Beirut International