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Lebanon Financial Bail Is Depended on Extradition Of Ghosn

Lebanon Financial Bail Is Depended on Extradition Of Ghosn

In a surprising turnaround of event facing the financial crises in Lebanon, it has been revealed that (probably) the financial bailout provided by International Monetary Fund (IMF) could be linked to fugitive Nissan CEO Carlos Ghosn’s extradition to Japan.

Contradicting the information shared in week before, Ghosn’s lawyer has now retracted his statement, saying he is simply asking that court hearing must happen in Lebanon before Ghosn’s fate is decided. He denied any possibility of IMF being influenced by Ghosn’s extradition to Japan.

Last week, the Lebanese ruling party, Hezbollah approved financial loan that will come through IMF to bail out a crippled Lebanese economy through pumping in money to the tune of $10 billion.

Ironically, Lebanon has been the bedrock of civil unrest due to bad governance at the hands of the American sanctioned terrorist group Hezbollah. The economy has been on the verge of collapse even before it was to prepare to handle the Covid-19 pandemic situation.

According to an official statement made by Prime Minister Hassan Diab, “We will ask for a loan program from the International Monetary Fund and formalize our negotiations with Eurobond holders and move forward with that.”

Strangely, the bailout has been linked to the extradition of Ghosn and is dependent on how Lebanon decided to give away Ghosn to Japan. The financial assistance to buttress the falling Lebanese economy could go caput if Japan decided to pull its hands from the IMF funding, being one of its major contributors.

But in a recent interview, Sakher El Hachem, Nissan’s legal representative in Lebanon has denied these intentions. Earlier it was known that the multibillion dollar bailout would come through only if Ghosn was handed over to Japan from Beirut in Lebanon, where he has been in hiding and escaped from Japan in December 2019.

Japan has strict rules against charges of corruption, espionage, conspiracy or treason. In its courts, most of the times, there is no trial and the perpetrator is announced as a criminal without any chance of fair trial. Ghosn is said to have given this as a reason for his diplomatically driven escape from Japan and has been hiding in Lebanon where is has been heavily invested for many years.

Ghosn holds both French and Lebanese nationalities and become a internationally wanted fugitive in December 2019.
Having done excellent work to turnaround sinking automobile businesses, he came under scrutiny over misuse of company funds and misrepresenting his earnings by companies he had worked for. He was finally arrested in 2018 in Japan and came out on bail several times, before escaping from Japan in the end of 2019.

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