Leaked New Banque du Liban Plan

The Lebanese Association of Banks has published the new plan of Banque du Liban, which includes writing off $21 billion of deposits. The plan stipulates compensating each depositor with an amount of $100,000 over a period of 7 years, with the amounts exceeding this limit being converted into retirement bonds ranging between 20 and 30 years depending on the size of the deposit. The plan aims to address the financial crisis and reduce debt levels, amidst the ongoing deterioration of the Lebanese economy and the persistent financial crisis.

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