Lebanon’s interim central bank chief vows not to lend money to government, calls for economic reform

By BASSEM MROUE
Associated Press

BEIRUT (AP) — Lebanon’s interim central bank governor has called on the country’s ruling class to quickly implement economic and financial reforms that the central bank won’t offer loans to the state and does not plan on printing money to cover the huge budget deficit to avoid worsening inflation. Wassim Mansouri’s comments on Friday came nearly a month after he took over the leadership at the central bank after the term of his predecessor ended. Lebanon is in the grips of the worst economic and financial crisis in its modern history and since the meltdown began in October 2019. The country’s political class has been blamed for decades of corruption and mismanagement and resisting economic and financial reforms.