The Lebanese Deputy Prime Minister Saadeh Al Shami announced Monday the "bankruptcy of the state and the Central Bank of Lebanon."

He continued, “The state has gone bankrupt as did the Banque du Liban, and the loss has occurred, and we will seek to reduce losses for the people," he added.

Shami said that the losses will be distributed among the state, in addition to the Banque du Liban, banks and depositors.

According to Shami, there is no conflict of views about the distribution of losses.

Since 2019, Lebanon has been suffering with a severe economic crisis.