Interim BDL chief: “Our decision is final, we won’t fund the state with Dollars or Liras”

Interim Governor of the Central Bank of Lebanon (BDL) , Wassim Mansouri, confirmed in an interview with Al-Arabiya channel, “Our decision is final not to finance the state, neither with the lira nor with the dollar, and the state must find means to finance its budget deficit.”

In another interview with Asharq Al-Awsat newspaper Asharq Al-Awsat newspaper , he said: “The monetary situation that Lebanon is experiencing cannot and must not continue,” considering that this monetary economy “will destroy the country,” adding: “We need help. But if… We didn’t help ourselves, who will help us?”

Mansouri assured his visitors that “Lebanon cannot continue and develop without relations with its neighboring natural Arab and Gulf countries.” He added: “All the countries friendly to Lebanon call on us to find a political solution and they will find us on their side. This issue is not in my hands, but it is my duty to call on them to implement laws related to currency and reforms to rebuild the economy.

” I believe that if this sector is built, the rest of the matters will be resolved.”, He added.

Depositors’ funds

Regarding depositors’ funds held in Lebanese banks, Mansouri said that “people cannot be treated as they are treated now. This is a lack of respect for people, and a lack of value for the state.” He added: “With regard to depositors’ money, people must be frank and work to find serious solutions, and this matter can only be done in accordance with the laws that I demand. The reform laws, which are (capital control), bank restructuring, and the financial balance law. These three laws are within the budget that “It reduces the deficit to the maximum extent. If it is achieved, a balance can be found.”

According to Lebanese media report , Mansouri had hinted during his meeting with Walid Bukhari, the Saudi ambassador to Lebanon that he wanted to request Saudi financial assistance to the Lebanese security and military forces but Riyadh has been stressing that the first priority for Lebanon is the financial reforms, and the election of a president of the republic, before providing any possible financial support to Lebanon.