With the aim of shedding light in a scientific and detailed manner on the reality of the financial and economic crisis that Lebanon has been experiencing for more than two years, which has been described by global economic experts and the World Bank as one of the three worst crises in the world since the mid-nineteenth century.
Lebanon faces enormous challenges amid the confusion and absence of an executive power that is willing to work effectively to address the crisis, with no clear vision or plan for rescue.
Proceeding from this bitter reality, and in search of the best plans to recover the economy and Lebanon’s financial problems and to rise from the banking crisis, a scientific presentation was organized at ESA Business School in Beirut, on Wednesday, June 22, 2022, from 4:00 to 6:00 p.m. at the invitation of MARSHI & PARTNERS – a non-partisan, Lebanon-based investment advisory firm founded by Marwan A. Marshi, (Chairman and General Manager) who presented a comprehensive and detailed presentation entitled:
Programs for recovery from the financial, monetary, and banking crises in Lebanon, including a discussion on reviving the electricity sector.
This presentation was attended by a large number of industry professionals, financial experts, economists, and businessmen, who interacted with the presentation through questions about the major financial crisis that Lebanon is witnessing. The event also witnessed the wide participation of media professionals and journalists specializing in the financial and economic fields working in media institutions in Lebanon and the Middle East.
Mr. Marshi considered in his intervention that “Lebanon in its current situation has not yet begun the stage of seriously dealing with the economic, financial and banking crisis, and that what is required is to find an effective government capable of conducting clear negotiations with the International Monetary Fund and the international community to restore confidence in Lebanon, especially with creditors and holders of Treasury bonds.”
The Lebanese state, which declared its deficit and inability to pay its foreign debts, took this step without any alternative, which accelerated the process of collapse.
Mr. Marshi also explained his view of addressing the banking crisis and how to solve the problem of bank deposits, emphasizing the importance of starting the reform process for the sectors that have long drained the Lebanese treasury and the reserves in the central bank, including the electricity on which Lebanon has spent nearly $40 billion to date.
Mr. Marwan A. Marshi is a dual US/Lebanon citizen, born in Beirut in 1961. He departed Lebanon to the US in 1977, as a result of the Lebanese civil war. He recently founded a Financial Advisory Firm in Beirut, Lebanon, named MARSHI & PARTNERS, where he is Chairman and CEO. During his 40 years in the United States, he spent 30 years on Wall Street. He returned to Lebanon in 2018, to resettle permanently for the love of Lebanon and its people.