Mansouri took the helm at the central bank on August 1, after the previous governor, Riad Salameh, ended his 30-year tenure with his legacy in tatters over corruption allegations, which he denies, and with the financial sector in turmoil.
Since Lebanon’s economy began to unravel in 2019, the pound has severely devalued, depositors have been locked out of their bank savings and families have been pushed into poverty.
But the country has failed to enact reforms demanded by the International Monetary Fund to gain access to $3 billion in aid.
Mansouri said that further delaying reforms “risks isolating the country from the global financial system.”
A financial crime watchdog this year warned Lebanon could be placed on a gray-list under special scrutiny over unsatisfactory practices to prevent money laundering and terrorism financing, unless it enacted reforms.
Source: Alarabyia
