Lebanese Economy Minister Amer Bisat said that the central bank is capable of supporting a repayment plan to repay most of the funds of savers that have been trapped for years due to the collapse of the financial system. Bisat said, “We believe there will be a large amount of liquidity. Not only will it be able to repay small savers, but with the support of central bank asset returns, large savers will also be repaid. We are quite confident that the program will provide objective payments for small savers and a transparent and clear path for large savers.” The remarks came after the Cabinet approved a draft bill last month. The bill allows savers to recover up to $100,000 over the next four years; funds above this threshold will be converted into bonds backed by central bank assets. This is an important step in restoring confidence to the banking system and economy, which has been in crisis for many years. Lebanon defaulted on about US$30 billion in international bonds in 2020.

Lebanese Economy Minister Amer Bisat said that the central bank is capable of supporting a repayment plan to repay most of the funds of savers that have been trapped for years due to the collapse of the financial system. Bisat said, “We believe there will be a large amount of liquidity. Not only will it be able to repay small savers, but with the support of central bank asset returns, large savers will also be repaid. We are quite confident that the program will provide objective payments for small savers and a transparent and clear path for large savers.” The remarks came after the Cabinet approved a draft bill last month. The bill allows savers to recover up to $100,000 over the next four years; funds above this threshold will be converted into bonds backed by central bank assets. This is an important step in restoring confidence to the banking system and economy, which has been in crisis for many years. Lebanon defaulted on about US$30 billion in international bonds in 2020.