Lebanons Central Bank crisis: Unanswered questions and hidden agendas

Lebanons Central Bank crisis: Unanswered questions and hidden agendas

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2023-07-21 | 01:53

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Lebanon's Central Bank crisis: Unanswered questions and hidden agendas

During Thursday's committee session, some referred to a plan distributed by the governors to the deputies in the presence of Deputy Prime Minister Saadeh Al-Chami, which sparked numerous questions and inquiries that went unanswered.

For example, some of the questions raised were: Why was this plan delayed until now? Why was it distributed in English to the deputies and translated during the session? Are the committee and the Parliament the two entities responsible for making decisions? Why is there no coordination with the government, which is supposed to be responsible for financial policy? Why did some deputies speculate about the USD exchange rate reaching LBP 300,000 or 600,000?

Despite the secrecy agreed upon by the committee's chairman and members, the information available suggests many contradictions and implications of a "hidden agenda" that could lead to extending the term of Central Bank Governor Riad Salameh until the president's election.

According to the available information, Mansouri is hesitant about the situation and the responsibility on one hand, while having a plan on the other, seeking political cover from the forces and parties represented in the Parliament, even if the Monetary and Credit Law grants