The U.S. is playing a pivotal role in Lebanon’s selection of a new central bank governor, focusing on curbing corruption and Hezbollah funding. Washington’s involvement comes as Lebanon seeks to implement critical economic reforms following years of financial crisis. Candidates under review must demonstrate commitment to addressing these issues and confronting Hezbollah’s influence.
The United States is actively engaging with Lebanon’s government regarding the appointment of the next central bank governor, aiming to prevent corruption and illicit financing related to Hezbollah. This effort highlights Washington’s commitment to influencing Lebanon’s monetary policy amid the economic crisis that has persisted for over five years.
U.S. scrutiny follows Hezbollah’s diminished power post-war and the election of U.S.-backed President Joseph Aoun. The new cabinet, having sidelined direct Hezbollah involvement, is tasked with filling critical positions, including the central bank governorship, occupied by an interim governor since July 2023.
U.S. officials are evaluating several candidates, including former minister Camille Abousleiman and investment firm heads Firas Abi-Nassif, Philippe Jabre, and Karim Souaid. Candidates are assessed on their ability to combat terrorist financing and their readiness to confront Hezbollah’s influence.
The next governor will be pivotal in implementing the economic reforms that President Aoun and Prime Minister Nawaf Salam have prioritized, essential for Lebanon’s recovery from the 2019 financial collapse. Reforms are also necessary for Lebanon to engage with the International Monetary Fund and receive international support.
Discussions on the candidates involve coordination with Saudi Arabia, indicating a broader regional interest in Lebanon’s fiscal stability. The new governor will succeed Wassim Mansouri, who has served as interim leader following Riad Salameh’s controversial tenure, which ended in sanctions and legal troubles over corrupt activities.
Lebanon remains under scrutiny regarding its financial practices, having been placed on a financial watchdog’s “grey list” due to shortcomings in combating terrorism financing and money laundering, underscoring the urgency of reform efforts.
In conclusion, the United States is significantly influencing Lebanon’s next central bank governor selection to mitigate corruption and the funding of Hezbollah. The candidates under consideration bear critical potential to drive requisite economic reforms essential for Lebanon’s recovery from its financial crisis. As international support hinges on reform implementation, the collaboration with regional partners such as Saudi Arabia symbolizes a multifaceted approach to restoring fiscal stability in Lebanon.
Original Source: www.usnews.com
