| 24 May 2024, Friday |

“Interesting” statements by Riad Salameh .. Will the Lebanese pound restore its balance?

Governor of Banque du Liban, Riad Salameh, confirmed that the Banque du Liban wants from Marsal and Alvarez, to start auditing operations as soon as possible.
Salameh confirmed, via an interview with Ici Beyrouth, that the personal attack against him began in April 2020, because he opposed the default by Hassan Diab’s government
He stressed that Banque du Liban cannot initiate the issuance of new banknotes in Lebanese pound with fewer zeros, as a similar step requires the approval of the government and issuance of laws.
Salameh defended the policy of Banque du Liban, “which has always set itself a goal, which is to protect depositors while preventing the bankruptcy of any Lebanese bank.”
“The bankruptcy of a bank means the loss of customer deposits,” he added, considering that “it is possible to start getting out of the crisis within the framework of an agreement between the Lebanese state and the International Monetary Fund, establishing a reliable financial law, and restructuring Lebanese banks on the basis of new funds.”
Salame announced that through these conditions, the value of the Lebanese pound “lira” would return to a “logical balance” and its value would be higher than it is today.