Mansouri: Central Bank Will Not Lend Goverment Any Funds

BDL Acting Governor Wassim Mansouri emphasized that monetary stability continues and is being preserved through traditional monetary means.

He stated that this intervention, which maintained monetary stability last month, did not cost any of the Central Bank's foreign currency reserves.

During a press conference, he mentioned, "Public sector salaries will be paid in dollars at the exchange rate of LBP 85,500. We have also agreed to provide for the needs of the army and security forces without affecting the Central Bank's foreign currency reserves."

He added, "The monetary stability, which requires cooperation with the Parliament and the government, is tied to economic and security conditions. We will not lend the government any amount whether in LBP or USD to cover the deficit. This should be done through enforcing taxation, opening state institutions, and controlling its ports and borders."

Regarding the Alvarez & Marsal report, he stated, "The Central Bank will complete all the audit procedures it started and will provide the company and the judiciary with all the required documents."

Mansouri called for preventing political disputes from affecting the monetary authority and its needs.

He sounded the alarm and warned that continued political indecision would lead to the growth of the monetary economy and isolate Lebanon internationally.