Lebanons Central Bank crisis: First Deputy Governors sources warn of critical situation

Lebanons Central Bank crisis: First Deputy Governors sources warn of critical situation

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2023-07-08 | 01:32

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Lebanon's Central Bank crisis: First Deputy Governor's sources warn of critical situation

The sources of the First Deputy Governor of the Central Bank of Lebanon, Wassim Mansouri, affirmed in an interview with "Al Joumhouria" that "the situation is extremely critical and sensitive. The step taken by the four deputies of the governor did not come as a response to any political considerations. Instead, it stemmed from their awareness of the potential danger the situation may pose if it remains.

"Therefore, the primary responsibility lies with the political authority, which must find a solution as soon as possible, namely appointing a new governor for the central bank. Article 18 of the Monetary and Credit Law is explicit regarding the appointment of the central bank governor and the implementation of the long-awaited measures and reforms," they added.

This article was initially published in, translated from, the Lebanese newspaper Al Joumhouria.   

The sources emphasized that they "understand the surprise of citizens regarding this step, but the political authority should not be, especially since we have been urging the responsible authorities for a long time to find a solution, yet we have not witnessed any concern for our appeals."

What was stated in the statement