Questions to be Raised on BDL's Policies

September 2, 2019   |   Economy and Public Finance   |   Public Finance   |   Brief Banque du Liban in Beirut.

Since the mid 1990s, Banque du Liban (BDL) has operated monetary policies aimed at maintaining the currency peg.  In the context of widening current account deficit, irresponsible fiscal policy, escalating debt and low growth, this comes at an unsustainable economic and social cost. 

Our concerns are all the more important that BDL has been functioning in a level of deep opacity, or even secrecy, to become a real “black box” in the eyes of experts and officials alike. BDL has not published its profit and loss account since 2002 and, quite alarmingly, little is known about the details of BDL policies, raising numerous questions from our part. 

Public Finance

The good governance of public finance is at the core of the social contract. Kulluna Irada believes that its primary role is to monitor how taxpayers' money is spent and why financing unproductive expenditures through unsustainable debt must stop.

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