“Lebanon Debate”
Earlier this month, the Lebanese Central Bank released its latest financial statement, which has caused some confusion and debate. Critics have suggested that the bank might be misappropriating state funds through certain accounting practices.
Economic journalist Mahassen Moursel provides clarity in an interview with Lebanon Debate, explaining the statement’s sections on assets and liabilities:
- Assets Section: The total foreign assets amount to $15.473 billion, with $10.277 billion of this in liquid foreign reserves (new dollar or cash dollars).
- Liabilities Section: Public sector deposits total $5.157 billion.
Moursel clarifies that these figures do not imply the bank is withholding state funds. Here’s why:
- Reserve Increase: The $10.277 billion in cash reserves has risen by over $1.5 billion since the acting ruler’s tenure began. Of this amount, less than $500 million is specifically allocated to the state and public sector. This means the state's share of the reserve increase is approximately $150 million.
- Liabilities vs. Assets: The $5 billion in public sector deposits includes both local dollars and Lebanese pounds. These funds have been recorded since before August 2023, which is prior to the recent increase in foreign currency reserves.
- The Central Bank of Lebanon’s balance sheet shows foreign currency reserves of $15.473 billion. The difference between this figure and the $10.277 billion in cash dollars represents the local currency.
Moursel notes that the discomfort surrounding monetary stability and the rise in Central Bank reserves seems to be fueling campaigns and accusations against the bank, alleging misappropriation of state funds.
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المحلية
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المحلية
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المحلية
الأحد، ٢٠ نيسان ٢٠٢٥
المحلية
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