The U.S. will play a pivotal role in selecting Lebanon’s new Central Bank Governor, aiming to tackle corruption and limit Hezbollah’s influence amid a severe financial crisis. Candidates under consideration are being scrutinized for their ability to combat terrorism financing. The new governor will be crucial in implementing necessary economic reforms, essential for securing international aid.
The United States intends to play a significant role in the selection of Lebanon’s new Central Bank Governor to address corruption and limit Hezbollah’s financial activities through Lebanon’s banking system. This involvement represents a notable escalation in U.S. engagement in Lebanese matters, particularly as the country grapples with an ongoing financial crisis that has persisted for over five years, resulting in severe economic repercussions.
Washington’s actions indicate its commitment to diminishing Hezbollah’s influence, particularly as the group’s governmental power has waned following Israeli military actions last year. With the election of Joseph Aoun, a U.S.-backed candidate, and the establishment of a new government devoid of Hezbollah’s direct participation, notable vacancies, including that of the Central Bank Governor, must now be filled, with the position currently held by an interim governor since July 2023.
The U.S. is reportedly scrutinizing various profiles for the governor’s post. According to sources, U.S. officials have engaged with several candidates, evaluating their strategies to combat terrorism financing and their willingness to confront Hezbollah. Noteworthy is the discreet nature of these discussions, as sources have chosen to remain anonymous concerning U.S. involvement in this process.
While specific details have not been released through official channels, U.S. authorities emphasize the importance of selecting individuals free from involvement with Hezbollah or corruption, which they assert is vital for Lebanon’s economic recovery. A U.S. official stated, “The criteria are clear: No Hezbollah, and no one involved in corruption. This is crucial from an economic perspective.”
Prominent candidates for the Central Bank Governor’s position include former minister Camille Abu Suleiman, Firas Abi Nassif, and International Monetary Fund official Jihad Azour, among others. The newly appointed governor will be pivotal in driving the economic reforms promised by President Joseph Aoun and Prime Minister Nawaf Salam to facilitate Lebanon’s recovery from its financial crisis that has greatly impoverished the population.
Furthermore, the new government is seeking to engage with the International Monetary Fund for financial aid, with successful implementation of economic reforms being a condition for such support. The necessity for reform is underscored by the involvement of Western and Arab nations, which have stipulated reforms as a prerequisite for contributing to Lebanon’s reconstruction efforts following significant destruction from last year’s conflict.
Discussions regarding potential candidates for the Central Bank Governor are ongoing between U.S. officials and Saudi authorities, highlighting the international dimension of this selection process. The outgoing governor Wassim Mansouri has been serving since Riad Salameh’s departure amid controversies related to his prolonged leadership and corruption allegations, culminating in sanctions imposed by the U.S., UK, and Canada against him.
In summary, the U.S. government’s intervention in Lebanon’s Central Bank Governor selection is driven by a desire to combat corruption and weaken Hezbollah’s influence. As Lebanon navigates a significant financial crisis, the appointment of a competent and reform-minded governor remains critical to stabilizing the economy and engaging with international financial institutions. The ongoing discussions regarding suitable candidates reflect the broader geopolitical implications of Lebanon’s financial recovery efforts.
Original Source: www.jordannews.jo
