US EditionMeet Karim Souaid, Lebanon’s new central bank chief with daunting mission
- Lebanon appointed Karim Souaid as the new Central Bank governor to help recover from the ongoing economic crisis, as announced by Prime Minister Nawaf Salam following a cabinet vote with 17 out of 24 ministers in support.
- Souaid is tasked with reestablishing the banking sector and ensuring that depositors' rights are prioritized, as highlighted by Prime Minister Salam's statements.
- The incoming governor will replace Riad Salameh, who resigned under corruption allegations, and will be under pressure to negotiate with the International Monetary Fund for financial support, as stated by IMF spokesperson Julie Kozack.
- The appointment comes amid Lebanon's economic crisis, which has seen nearly half the population fall into poverty since the 2019 financial collapse, according to the Media Line Staff.
17 Articles
17 Articles
Lebanon appoints wealth manager central bank governor
The Lebanese government named asset manager Karim Souaid as central bank governor on Thursday, official media reported, a post crucial to implementing economic reforms demanded by international creditors. He was appointed despite the reservations of the new, reformist prime minister, Nawaf Salam, who called on Souaid to commit to the government's reform agenda in a country gripped by a five-year economic collapse widely blamed on official misman…
A wealth manager, Karim Suaid, appointed to head the Bank of Lebanon
On Thursday 27 March, the Lebanese government appointed a new Governor of the Bank of Lebanon, a key post in preparation for negotiations with the International Monetary Fund for the release of financial aid to Lebanon, which has been hit by a serious economic crisis since 2019.
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