Good and Fair News for Depositors!

The chief advisor to the Prime Minister, former MP Nicolas Nahas, revealed that "the International Monetary Fund did not accept any of the proposals included in the government's financial recovery plan, which involves differentiating treatment between depositors, particularly regarding those who had deposits in dollars before October 17 and those who converted their deposits from lira to dollars after October 17, 2019." The proposals in the recovery plan suggested that deposits for those who converted their deposits from lira to dollars after October 17 would be returned in Lebanese lira without specifying the exchange rate at which the deposit would be calculated. Some suggested it would be based on Circular 151, with a dollar priced at 8,000 lira, while others mentioned it would be based on Circular 158, with a dollar priced at 12,000 lira. However, the discussion remained far from returning the funds based on the dollar rate on the Sayrafa platform. The Leb Economy website continued to follow this important topic in a conversation with Nahas, who confirmed that "nothing is final yet."