From Maduro to Beirut: Urgent warning for Lebanon’s financial reform

Report by Bassam Abou Zeid, English adaptation by Mariella Succar

Frustration appears to be mounting among U.S. officials toward Venezuelan President Nicolás Maduro after he delayed complying with their demands, prompting criticism and measures against him, according to multiple reports.

Video footage of former U.S. President Donald Trump underscores Washington’s insistence that promises alone are no longer sufficient, and that concrete results are expected from those it engages with.

Observers say Lebanon may face lessons from the Venezuelan experience. Officials and lawmakers are warned that stalling on political and economic demands — particularly financial and economic reforms — could have direct negative consequences.

Israeli airstrikes and security tensions in the region add to the sense of urgency for Lebanese authorities to respond to domestic and international expectations.

Discussions are ongoing regarding a draft law addressing Lebanon’s financial gap. The International Monetary Fund has reportedly made its preferred terms clear, signaling little flexibility in negotiations despite objections and alternative proposals.

During a recent banking sector meeting, banks reiterated their concerns about the draft law, warning that it could create an economy focused solely on repaying deposits over the next 20 years. 

They argued that the legislation risks enriching the state and the central bank at the expense of depositors and could worsen the country’s financial problems rather than solving them.

Banks called on depositors, parliamentarians, and ministers opposing the law to raise their voices and help reach a better solution. They also said they would await public and institutional reactions before deciding on next steps.