Ok, monetary and economic authorities have failed in their duty to "protect the value of the national currency", as the exchange rate went above 4000LBP/$, 1.6 times the official rate.
What should be done immediately (other than long term reforms) (thread, 1/n)
What should be done immediately (other than long term reforms) (thread, 1/n)
▪️ Change the entire leadership at the BDL & Banking Control Commission with independent competent people
▪️ Force banks by decree to return at least 5% of dollar deposits from their own capital, as bank owners are liable
▪️ Enact fair capital controls on the remaining deposits
▪️ Force banks by decree to return at least 5% of dollar deposits from their own capital, as bank owners are liable
▪️ Enact fair capital controls on the remaining deposits
▪️ Activate an economic emergency to import directly through state agreements a majority of basic commodities
▪️ Put a legal hold on all assets of everyone who was in government or dealt with government in past 30 years
▪️ Appoint judges committee to prosecute and return assets
▪️ Put a legal hold on all assets of everyone who was in government or dealt with government in past 30 years
▪️ Appoint judges committee to prosecute and return assets
▪️ Enact law to abolish exclusive dealerships and break cartels in major markets
▪️ Activate national price monitoring and prosecute anyone who raises prices illegally
▪️ Distribute emergency basic income support to all those in need
▪️ Activate national price monitoring and prosecute anyone who raises prices illegally
▪️ Distribute emergency basic income support to all those in need
Please unroll @threadreaderapp
Thank you!
Thank you!
