The report estimated the losses at $83.5 billion.
The head of the Association of Banks in Lebanon Salim Sfeir called on the government to pay all its dues to the lenders, stressing that the Lebanese banks are not seeking a bailout.
“Lebanon’s banks are not asking for a bailout because we don’t need one. Our industry is sound and what we need is for the government to pays us back – in time. We stress 'in time' because, although it’s the government's responsibility to fulfill its promises, we recognize that the government is now undergoing a cash shortage that impedes the fulfillment of its obligations on time,” Sfeir told the Parliament’s Budget and Finance Committee.
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