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UPDATE 1-Lebanon central bank head says figures in some media about Swiss case 'inflated'

Lebanon's Central Bank Governor Riad Salameh said on Monday that figures circulating in some news outlets and on social media relating to an inquiry by the Swiss authorities into allegations of money laundering and embezzlement were inflated. ....

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Swiss envoy, Lebanese FM held talks over central bank probe – Ya Libnan

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Lebanon Foreign Minister Charbel Wehbi and Swiss ambassador Monika Schmutz Kirgoz held talks over central bank probe with regards to possible money laundering and embezzlement of funds
BEIRUT Lebanon’s foreign minister held talks Monday with the Swiss ambassador to Beirut after Switzerland started a probe into possible money laundering and embezzlement at the Mideast country’s central bank.
Foreign Minister Charbel Wehbi and ambassador Monika Schmutz Kirgoz did not offer comments following their meeting, saying only that the probe is a matter that judicial authorities are dealing with.
Switzerland’s attorney general said last week he has asked Lebanon for cooperation into the probe, without offering further details. It’s not clear what prompted the Swiss investigation. Lebanon is facing its worst economic and financial crisis in its modern history. ....

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Lebanon central bank head says figures in some media about Swiss case 'inflated'

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Beirut Lebanon Central Bank Governor Riad Salameh , Central Bank Governor Riad Salameh , பெய்ரூட் லெபனான் மைய வங்கி கவர்னர் ரியாத் சலேமே , மைய வங்கி கவர்னர் ரியாத் சலேமே ,

Swiss envoy, Lebanese FM holds talks amid central bank probe

BEIRUT (AP) Lebanon’s foreign minister held talks Monday with the Swiss ambassador. ....

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Lebanon Must Enact Drastic Reforms to Survive, Economists Say

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Dale Gavlak
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AMMAN - The COVID-19 pandemic is inflaming an already severe crisis of inequality across the globe, according to a report released by aid group Oxfam International. Lebanon, now ravaged by economic, political and health crises, must enact drastic reforms in order to survive, economists say.
Lebanon has the third-highest debt-to-gross-domestic-product ratio in the world and is in need of extensive economic restructuring, Nasser Saidi, former minister of economy and trade in Lebanon, recently told the Malcolm H. Kerr Carnegie Middle East Center.
If you look at other countries that have been in crisis Greece, Argentina, Iceland this goes well beyond that, he said. We are seeing real GDP declining in 2020 by about 20 percent. It had already declined by 7 percent in 2019. So, this is a massive depression, even greater than that in the 1930s, in the Great Depres ....

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