Syria's Assad says funds frozen in Lebanese banks biggest impediment to investment

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Syrian President Bashar al-Assad said on Saturday the main impediment to investment in the country was money stuck in ailing Lebanese banks.

In a speech after being sworn in as president for a fourth term, Assad said estimates suggested the frozen funds were worth between $40 billion and $60 billion.Lebanon is in the throes of a deep economic meltdown that is threatening its stability. Lebanese banks have locked depositors out of their accounts and blocked transfers abroad since the start of the country's crisis in late 2019.

Assad also said Syria would continue working to overcome difficulties caused by the Western sanctions imposed over its decade-long war. "We will continue to work to overcome them without announcing what methods we used before to do that or what we will use in the future."

 

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Too bad!

lebanese banks are insolvent, good luck getting them to pay you anything

If this is true which is not obviously the number is more than exaggerated. he should ask himself why the Syrians deposited their money in lebanese banks instead of Syrian banks

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