On Tuesday 31st of January 2023, a group of economists met at 100% Liban for a focus meeting entitled “Rebuilding Trust: Strategy for Establishing a Strong Economic Framework”.
In order to look for effective methods of purposeful economic work that must be adopted in light of the current crisis, which has lasted longer than expected and has not seen constructive and radical solutions to its ramifications from those involved.
During the meeting, a package of foundations was issued that must be adopted in order to support Lebanon’s actual rescue.
According to experts, the financial gap does not reflect losses but obligations, and it was not classified as losses by the Central Bank.
The attendees saw that, despite all the challenges, Lebanon’s situation so far reflects a liquidity crisis rather than a solvency crisis, with the main reason being a lack of confidence.
Noting that some believed that the lack of a solution would lead to a solvency crisis.
The experts emphasized and confirmed that it is not possible to discuss financial losses because the losses are economic for the country.
Concerning fixing the exchange rate, participants agreed that it is preferable to liberalize it through a package of reforms in order to achieve financial balance. The central bank would intervene to stabilize the exchange rate in case of financial markets deterioration.
In terms of depositor rights, it is necessary to work to protect deposits, as stated in the constitution, through the rescheduling of state debts, and thus the rescheduling of accounts and bank assets.
Following the accumulation of negative economic indicators, 100% Liban aims to look for the recovery and relaunching the economy for the sake of Lebanon’s future.
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