Lebanon c.bank must stop funding state, phase out Sayrafa – Mansour

Lebanon c.bank must stop funding state, phase out Sayrafa – Mansour

Lebanon's central bank must gradually stop funding the government, phase out a controversial exchange platform known as Sayrafa and lift the peg on the local currency, vice governor Wassim Mansour said on Monday hours before he is set to take over as interim chief.

Any lending to government from now on must be temporary and will be conditioned on the state's capacity to repay the loan, he added, signalling hopes for a significant shift in monetary policies. (Reporting by Maya Gebeily and Laila Bassam; Editing by Andrew Cawthorne)

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