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The Governor of the Banque du Liban, Riad Salameh, confirmed that the central bank cannot sustain support for basic products for more than two more months, adding that it is up to the state to deal with this situation.
In an interview with the Al-Arabiya Al-Hadath channel, Salameh said that the Central Bank will commit to handing over state accounts as part of any criminal audit, but that handing over local bank accounts needs to amend the law.
He added that the central bank will seek to reorganize and sell Lebanese banks that cannot increase their capital by the deadline set for this in February.
Salameh stressed that “Lebanese deposits are in the banks and not in the Central Bank, and that each month at least 600 million dollars are withdrawn in response to the needs of the Lebanese,” noting that “we have to ensure liquidity when the banks need to protect depositors’ money and all countries in the world put an end to cash withdrawals. “
Salameh: Until the end of September 2020, the Banque du Liban returned all the dollars to the banks. “
He pointed out that “the deficit in the state budget does not belong to the Bank of Lebanon”, and emphasized that “the Central Bank finances the state if it lacks financing in accordance with the law, and will own the shares of banks that are not committed. with increasing capital. “
He added: “One billion one hundred million that came out of Lebanon from Lebanon is not the cause of the crisis, and the Central Bank of Lebanon has no accounts except in banks.”
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