The U.S. is seeking to influence Lebanon’s election of a new central bank governor to combat corruption and control Hezbollah’s financial power. Washington is reviewing candidates as the country copes with a deepening economic crisis. The new governor will be crucial for implementing reform, particularly in talks with international financial institutions and addressing terrorism financing issues.
The United States is actively involved in selecting Lebanon’s next central bank governor to combat corruption and curb the financial influence of Hezbollah in the banking sector. This involvement underscores the U.S.’s unprecedented engagement in Lebanon during its ongoing financial crisis. Washington’s initiative follows the election of Joseph Aoun as president and a new cabinet that excludes Hezbollah.
U.S. officials are scrutinizing profiles of various candidates, including former minister Camille Abousleiman and investment firm leaders Firas Abi-Nassif, Philippe Jabre, and Karim Souaid. These candidates are under consideration as the new governor must implement critical economic and financial reforms to address Lebanon’s severe economic downturn that began in 2019 due to corruption and overspending.
The new governor will play a vital role in resuming talks with the International Monetary Fund for a financing program, a prerequisite for economic recovery. The U.S. is also coordinating with Saudi Arabia regarding candidate selection, as both nations prioritize necessities for reform, particularly in light of Iran-backed Hezbollah.
The incoming governor will take over from interim chief Wassim Mansouri, following the controversial exit of longtime governor Riad Salameh. Under Salameh, who previously enjoyed U.S. support, Lebanon’s financial situation deteriorated, leading to accusations of corruption and sanctions against him. Lebanon faces increased scrutiny for insufficient action against terrorist financing and money laundering, further complicating its international financial standing.
The U.S. is playing a significant role in Lebanon’s central bank leadership selection, focusing on candidates who are capable of initiating essential economic reforms and combatting Hezbollah’s influence. With a new government in place, the chosen governor must work toward restoring stability in Lebanon’s financial system while meeting international reform conditions to secure necessary funding and support.
Original Source: www.usnews.com
