Lebanon Cancels Central Bank Debts, Which is next?

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News Date: May 26, 2022

Lebanon Recovery Plan Includes Central Bank Debt Write-Off, Haircuts to Depositors.
The government foresees canceling a large part of the central bank's foreign currency obligations to commercial banks.
The plan includes several measures that are prerequisites to unlock funds from a preliminary deal with the IMF agreed in April.
Sources: usnews.com

World Bank is urging debt relief

The World Bank's new president, Ajay Banga, is urging swift action in providing debt relief.
During a press conference at the Bank's annual meeting in Marrakech, he emphasized the need for expedited efforts to alleviate the economic burdens faced by many nations.
President Banga's message highlights the urgency of addressing global economic challenges and reaffirms the World Bank's commitment to supporting economic stability and sustainable development worldwide.

Crypto-Currency Act of 2020

US Lawmaker Introduces Crypto-Currency Act of 2020 While Under Coronavirus Quarantine.
The bill clarifies which federal agencies regulate which type of crypto assets. It's crucial that America remains the global leader in cryptocurrency, the lawmaker said.
Source:congress.gov

Is the reset accelerating?

⚡️ Update (May 13): Nvidia’s Jensen Huang is now IN — reportedly joining last minute and even boarding Air Force One. That’s a major shift, putting AI and semiconductors directly at the center of discussions.
A powerful lineup of ~17 top US CEOs is heading to China with Trump for the Xi summit (May 14–15). This isn’t just diplomacy — it’s business at the highest level.
From Elon Musk and Tim Cook to leaders from BlackRock, Boeing, Goldman Sachs, Visa, Mastercard, Qualcomm and more — this looks like a coordinated push to unlock deals, market access, and regulatory wins.
Behind the scenes, companies are chasing approvals, contracts, and strategic positioning in a tense US–China landscape.
📊 Is this the beginning of a broader economic reset — or just a tactical truce?

Trump vows tax cuts and debt relief

President Trump made a campaign stop in Durham, N.H., on Saturday.
Donald Trump: "Here is my pledge to every New Hampshire family: I will never let the Trump tax cuts and they are the biggest tax cuts in the history of our country. I will never let them be taken away from you and with your vote in this election we will cut your taxes even further."
He also promised to take economic measures to get rid of the massive national debt.

Digital ruble in cooperation with the UAE

The Bank of Russia, led by First Deputy Governor Olga Skorobogatova, is collaborating with the UAE regulator to establish a cutting-edge system for fast payments and settlements.
This initiative, announced at the Finopolis forum, aims to utilize the digital ruble to streamline financial transactions for both individuals and businesses.
The partnership signifies a commitment to financial innovation and positions these institutions at the forefront of the evolving digital landscape.
The digital ruble is expected to enhance transaction efficiency, fostering financial inclusivity and exemplifying a proactive approach to the future of finance.
"We will work out the fast payment system because the colleagues are ready with the digital ruble and we are ready.
If we solve the issue of client identification, then I think we will be able to build up a normal system of payments for citizens and the business between the two our countries in a year at the least," she stated.