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April 28, 2020

Miyaleh Urges Agreement on Retrieving Frozen Syrian Balances in Lebanese Banks

Former Syria Central Bank Governor, Adib Mayaleh, confirms that some Syrian businessmen are accepting deposit haircuts as a concession to private Lebanese banks to cash out their USD-dominated funds. This only partly explains why Syria's economy is choking.

[link for a definition of haircuts for your non-finance readers:]

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