Banque Lebanon Governor on Banking Reform
Lebanese Central Bank Governor Saeed Karim warned that the financial and economic crisis in the country has become systemic, due to a simultaneous collapse in citizens' confidence, the currency's value, the banking sector, and the state's inability to finance itself. He emphasized that solutions require accurately assessing losses, restructuring the banking sector and sovereign debt, and implementing deep financial reforms. He also stressed the importance of all parties fulfilling their responsibilities to achieve recovery and economic stability.
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