Lebanon’s cabinet has approved draft legislation aimed at freeing up bank deposits that have been trapped in its banking system for years. The proposed law would allow some depositors to recover part of their savings, with larger balances converted into bonds backed by central bank assets. The move is seen as a key step towards untangling the financial crisis facing the Middle East’s most-indebted nation. Amer Bisat, Lebanon’s Economy and Trade Minister spoke exclusively to Bloomberg’s Horizons Middle East and Africa anchor Joumanna Bercetche about Lebanon’s economic recovery. (Source: Bloomberg)
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Bisat: Lebanon's Gap Law Fair Process to Repay Depositors
