Lebanons monetary landscape: A new era under Wassim Mansouri

Lebanons monetary landscape: A new era under Wassim Mansouri

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2023-07-31 | 10:12

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Lebanon's monetary landscape: A new era under Wassim Mansouri

In a recent statement, Wassim Mansouri, the First Deputy Governor of Lebanon's Central Bank, mentioned three crucial points aimed at addressing the country's financial crisis and currency instability:

Reiteration of caution regarding state financing

Concerning the first pillar, Mansouri emphasized that the Central Bank's deputies, ever since they assumed their duties, have objected to the state financing policy and have sent letters to relevant authorities expressing their concerns in this regard.

Outlining a roadmap for the future

Regarding the second pillar, he presented a roadmap that enables the Central Bank of Lebanon to continue financing the state at the minimum level and for a specific period, depending upon a law that allows such financing.

Pursuing exchange rate unification

Addressing the third pillar, Mansouri underscored the importance of assisting the most vulnerable people and stressed the need for increased transparency in the Sayrafa exchange rate. He deemed the present moment appropriate for the exchange rate to be 'liberated.'

As a result, Governor Riad Salameh's term has come to an end, and Mansouri has assumed primary responsibility for the country's monetary policies. So what are his authorities and powers?

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