The 11 trillion lira optical illusion

Previously, the swap between the Ministry of Finance and BDL, as well as all the financial engineering transactions, increased government dollar debt in exchange for printing Lira.
by Dan Azzi

26 May 2019 | 19:27

Source: by Annahar

  • by Dan Azzi
  • Source: Annahar
  • Last update: 26 May 2019 | 19:27

This undated picture shows Lebanon's Finance Minister Ali Hassan Khalil (AP)

There’s talk in the market about banks being “asked” to subscribe to 11 trillion Lira ($7.3 billion) at 1% interest. Naturally, the banking community is enraged, because it’s around a $600 million...
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