NNA – Lebanese Central Bank Acting Governor, Dr. Wassim Mansouri, on Friday welcomed a delegation from the Administrative Committee of the Economic Journalists Association, with whom he discussed the general situation in Lebanon and the region, as well as legal and judicial affairs of mutual concern.

Mansouri began the meeting by emphasizing that "the central bank is the institution relied upon for economic recovery," explaining the results of his visit to Washington, "which established relationships with the World Bank, the International Monetary Fund, and the U.S. Treasury, based on a full understanding to preserve Lebanon's financial situation."

“The central bank has complied with all the requests of the IMF, most notably: halting state financing, unifying the exchange rate, ensuring monetary stability, updating all policies, procedures, and good governance in cooperation with the IMF," Mansouri said, revealing that "focus is on risk management, strict accountability, adjusting the accounting system, i.e., updating and developing the institution of the Central Bank of Lebanon."

Regarding the current relationship with banks, Mansouri pointed out the "need to establish the foundations for restructuring the banking sector, as economic recovery cannot be achieved without a sound banking sector," noting that "this achievement does not depend on the Central Bank of Lebanon, but rather the state to enact the necessary laws."

“There are four foundations that must be built upon: accountability in the judiciary, returning depositors' funds through a clear plan while lifting banking secrecy, building the economy through a sound banking sector, and restructuring state institutions, i.e., accomplishing the required reforms,” Mansouri added.

He stressed that the Central Bank decisions will not be influenced by political backgrounds, praising the employees "who cooperate with them at the Central Bank of Lebanon, as they possess high qualifications and expertise."

Moreover, Mansouri confirmed that the delay of some banks in implementing Circular 166 may be due to the failure to complete the requests, urging citizens to "report any delays so they can be addressed."

Regarding the continuation of working with an exchange rate based on 15,000 Lebanese pounds in banks, Mansouri confirmed that "the central bank has no relation to this rate, after announcing the official exchange rate on all its platforms and transactions."

=====================R.H.