A changing tide: Lebanons Central Bank faces leadership vacuum

A changing tide: Lebanons Central Bank faces leadership vacuum

Notification

2023-07-06 | 11:33

High views

A changing tide: Lebanon's Central Bank faces leadership vacuum

In a clear statement, the four deputies of Lebanon's central bank governor, Riad Salameh, have firmly dismissed any doubts, affirming that neither First Deputy Governor Wassim Mansouri nor the other three deputies are willing to assume the governor's duties after his term ends on July 31.

In their statement, the governor's deputies called for the appointment of a new governor per the Monetary and Credit Law as soon as possible. They warned they would be compelled to take appropriate action in the public interest if this does not happen.

Sources within the Banque du Liban (BDL) indicated that the governor's deputies might collectively resign if a new governor is not appointed.

The deputies' statement criticized the absence of a comprehensive plan to restore financial and banking stability, as well as the lack of balance in the budget. It emphasized that the concept of caretaker authority should not be extended to the country's highest monetary authority, which is Lebanon's central bank.

Furthermore, the BDL sources argued that the Amal-Hezbollah duo's claims of imposing Wassim Mansouri as the first deputy governor are unfounded. They added that Mansouri is still committed to avoiding confrontation with Christians.

The