Rahi in Easter Message Says Lebanon a ‘Looted’ State

Maronite Patriarch Beshara al-Rahi urged the State in his Easter message on Saturday to focus on social justice, preserve the life savings of Lebanese in the banks and recover the State’s “looted” funds, the National News Agency reported.

“We hope the government would carry out the required reforms in accordance with social justice, impose taxes consistent with citizens’ incomes and collect these taxes from everyone while preserving the citizens' money in banks,” said Rahi.

The Patriarch pointed out that Lebanon is a state whose funds have been “looted,” voicing calls to restore the public funds and “preserve the life savings of Lebanese in banks.”

Rahi’s comments come amid reports claiming that Lebanese banks could impose a haircut, which would deduct from deposits or turn them into long-term bonds, as the country grapples with an unprecedented economic crisis.

Coronavirus is the latest crisis to hit Lebanon, which is already reeling under a crumbling economy.

Due to an acute liquidity crisis, banks have since September increasingly been restricting access to dollars and have halted money transfers abroad.