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Lebanon’s draft Capital Control law branded destructive

Lebanon’s draft Capital Control law branded destructive

Beirut, Apr 27 (Prensa Latina) The National Democratic Rally and the Social and Economic Committees on Wednesday called destructive the current draft Capital Control law for Lebanon.
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Through a communiqué, the two sides considered the regulation with the power to plunder small depositors, workers, and middle and lower class citizens.

They stressed the importance of continuing the popular struggle to impose a trial and the dismissal of Riad Salameh, governor of Lebanon’s central bank or Banque du Liban, under investigation for suspicion of money laundering and illicit enrichment.

They also insisted on the need to recover funds looted and smuggled by the Government abroad.

On Tuesday, the absence of legislators to form the required quorum forced to suspend the Parliament session, because they agreed not to discuss the regulation, as they were not satisfied with “a memorandum” sent by the Government instead of a “recovery plan.”

The adoption of a Capital Control law is among the reforms requested by the International Monetary Fund to help solve the economic crisis in Lebanon.


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