Lebanese central bank governor inflated assets as liabilities grew-audit – ZAWYA

Lebanese central bank governor inflated assets as liabilities grew-audit – ZAWYA

lebanese central bank governor inflated assets as liabilities grew-audit the central bank's unusual approach is permissible because there is no global standard for central bank accounting.    lebanon's central bank governor riad salameh speaks during an economic forum organized by the central bank of lebanon in collaboration with the international monetary fund at the lebanese central bank in beirut june 18, 2014. beirut/london - lebanon's central bank governor inflated the institution's assets by over $6 billion in 2018, its audited annual accounts show, underlining the extent of financial engineering used to help prop up the country's economy.the financial statements for 2018, a copy of which was seen by reuters, were signed off with qualifications by ey and deloitte just last month, and have not been made public.the accounts show how the central bank managed to balance its books while helping to fund an ever-widening government deficit, including recording a 10.27 trillion lebanese pound ($6.82 billion) asset described as "seigniorage on financial stability".the financial statements for 2018, a copy of which was seen by reuters, were signed off with qualifications by ey and deloitte just last month, and have not been made public.beirut/london - lebanon's central bank governor inflated the institution's