In response to recent media reports concerning its role in reforming Lebanon's banking sector, Banque du Liban (BDL) announced that it will propose the first draft of a comprehensive bank restructuring plan.  BDL stated that the initiative would be led by the BDL governor and senior officials in coordination with the Prime Minister's Office, relevant ministries, selected presidential advisors, and experienced international financial consultants specializing in systemic banking crises.  According to a statement from BDL, the work will follow a methodical and precise approach to address the complex challenges facing Lebanon's economy, public finances, and severely strained banking sector.  BDL emphasized that there would not be a single imposed plan from the central bank. Instead, a unified, coordinated, and adaptable approach will be pursued—one that must ultimately receive endorsement from all stakeholders, including the Lebanese state, BDL, and commercial banks.  BDL will focus on repaying small depositors and gradually recapitalizing banks to restore their lending capacity and role in supporting national economic growth.  The statement also highlighted the critical role of Parliament, particularly the Finance and Budget Committee and the Administration and Justice Committee, in reviewing, debating, drafting, and passing the urgent legislative framework required to implement the final restructuring plan. The process, it added, will necessitate economic sacrifices and compromises from all parties without exception.  Reiterating its position, BDL stressed the importance of aligning all stakeholders—including the central bank—around a unified goal rather than a single rigid plan: the gradual and sustainable recovery of the Lebanese  economy, supported by a stronger banking sector, an independent central bank, and a fair and realistic mechanism for repaying deposits over time. (ICE BEIRUT)

Fonte notizia: lbcgroup.tv/news