16 Hrs
Source:
Lebanon Debate
Source: Lebanon Debate
16 HrsLebanon Debate
Source: Lebanon Debate
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The head of the “Depositors’ Cry” Association, Alaa Khourchid, said that raising withdrawal limits on cards was a positive step but not enough. He called for a monthly limit of at least $2,000, with no additional conditions. He said the fate of the $100,000 amount being discussed under the deposit-resolution plan remained unclear. The association, meanwhile, is calling for an initial payment of between $500,000 and $1 million, with some of the gold reserves used to fund it. He warned that writing off deposits or converting most of them into long-term bonds—including a proposal to return around $40,000 to each depositor—would lead to widespread escalation. He stressed that the association would not stand idly by. He added that prices had risen by more than 30 to 40 percent, and that the modest increases in withdrawal limits did not make up for depositors’ losses.
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