Lebanon’s interim central bank governor called on the country’s ruling class Friday to quickly implement economic and financial reforms warning 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 came nearly a month after he took over the leadership at the central bank after the term of his predecessor, Riad Salameh, ended on July 31. Lebanon is in the grips of the worst economic and financial crisis in its modern history.
Lebanon’s interim central bank governor Monday froze the accounts of the bank's embattled former chief and close relatives and associates days after the United States, United Kingdom and Canada slapped sanctions on them. Wassim Mansouri’s decision was made public following a meeting of the central bank’s Special Investigation Commission. The commission is in charge of fighting money laundering and terrorism financing.
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