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Lebanons savers bear burde nunder new rescue plan (reuters.com)
1 point by algo_trader on Feb 3, 2022 | hide | past | favorite | 1 comment


Small savers are protected up to $150,000. But not really - since they get worth less local current (has lost 90% of its value).

Rest of the depositors get 50% of their original value in a 15-year payment plan of local currency.

Wealthiest depositors (e.g. diaspora, Arab overseas investors, gulf states bodies) get 50% of their value in long term bond instruments and newly issued bank shares, reaching ~70% of the bank ownership. BUT, the shares have no special protection, so the current bank owners continue to control the local banking system.




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