Mansouri warns over 'fragile' financial and economic stability
Central Bank interim governor Wassim Mansouri on Thursday reassured that the bank will continue to pay the salaries of the public sector in U.S. dollars, which “provides stability to 400,000 families.”
“This is not a long-term stability but rather fragile stability, and if no president is elected the economic situations will further deteriorate,” Mansouri warned, following a meeting with the Economic and Social Council of Lebanon.
Stressing the need to “re-launch the banking sector through restoring depositors’ confidence,” the interim governor noted that the state will not be able to return depositors’ money before restructuring the country’s banks.
“Answers can be given to depositors about their deposits and the responsibility is shared with the government and parliament,” Mansouri added.
“I hope we can launch a joint workshop in an attempt to give answers to depositors as soon as possible,” the interim governor went on to say.
Mansouri also pointed out that “the salaries are provided by the Lebanese state, not the central bank,” noting that “there will be no change in the central bank’s policy nor financing of the state -- neither in Lebanese pounds nor in U.S. dollars.”
Source: Naharnet
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