Lebanon: Central Bank governor defends record following criticism from PM Diab

The governor of the central bank of Lebanon Riad Salameh responded to criticism by the Prime Minister on Lebanon's ongoing monetary crisis on Wednesday. «The Bank of Lebanon will remain cooperative with the government and its president, as it was in the past cooperating with previous governments with different political orientations. The central bank will not be a tool to incite instability, we... Еще will act in accordance with the Monetary and Credit Law and preserve the independence of its decision as stipulated in the law,» explained Salameh. The Lebanese pound has been pegged to the dollar since 1997, but in recent months it has lost more than half its value on the parallel exchange market. The Lebanese Prime Minister Hassan Diab blamed Salameh for the ongoing monetary crisis in the country last Friday. Diab previously urged the central bank governor, who has held the post since 1993, to explain his plans and when the exchange rate would stop rising.

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