18 Hrs
Source:
التيار الوطني الحر
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Behind the Scenes: Governor Rejects IMF Request
The article clarifies that Lebanon's Central Bank Governor, Karim Saied, rejected calls during meetings with IMF delegations both in Lebanon and abroad to reduce bank shareholders' equity or to liquidate and merge under-capitalized banks. He considered such measures not to be the optimal solution to the banking sector's problems. This stance is part of the central bank's refusal to succumb to IMF pressures for financial and banking reforms, including cutting banks' assets or shutting down institutions, in an effort to maintain financial stability and avoid risking domestic funding sources.
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