Banque du Liban Governor, Riad Salameh, said yesterday that the bank would issue a central bank digital currency (CBDC) in 2021, according to the national news agency.
Salameh believes that a CBDC might encourage $10 billion of cash stored in homes to be converted to CBDC.
In March, the country defaulted on $1.2 billion of sovereign debt, and some depositors have lost faith in the banking system. The IMF outlined a four-point plan to address Lebanon’s financial crisis in August.
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