Double-Dealing: Financial elites loom over Lebanon’s proposed capital controls

Announced in February 2022, a World Bank-sponsored redevelopment plan could finally turn Beirut Port into both an economic powerhouse and vibrant community space. Unfortunately, early signs suggest that the proposed planning and regulatory reforms risk entrenching the same corrupt management and practices that brought the port to its current nadir.

An investigation by Badil reveals previously unknown details of Lebanon’s Eurobond default and how the banking sector manipulated it to facilitate billions of dollars in foreign transfers.

Reckless profiteering and the banking sector’s insolvency demand a bold deposit recovery plan to restore financial integrity in Lebanon.