The World Bank insists Lebanon's problems have more to do with past decisions made by the country's politicians. lebanonponzi worldbank
Lebanon Ponzi Finance: World Bank Says Politicians Are to Blame for the 'Deliberate Depression'
The bank argues that this absence of effective policy responses combined with the “political consensus in defence of a bankrupt economic system” has only exacerbated the misery for the Lebanese people.dubbed the Lebanon Ponzi Finance review, the World Bank acknowledges the role of the Covid-19 pandemic may have played in worsening the situation. However, the bank insists Lebanon’s problems have more to do with past decisions made by the country’s politicians.
Nevertheless, in its report, the World Bank argues that commercial banks and large creditors should have absorbed the losses.
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