Representative of Monetary Fund to Governor of Bank of Lebanon: You ignite exchange rate

Lebanese sources revealed that the representative of the International Monetary Fund in Lebanon, Martin Cerezula, accused the governor of the Central Bank of Lebanon, Riad Salameh, during a meeting of igniting the dollar exchange rate on the black market.

Follow-up circles for negotiating rounds between the International Monetary Fund and the Lebanese delegation said that the representative of the IMF in charge of negotiations with Lebanon, Martin Cerezula, told the Governor of the Banque du Liban Riad Salameh, "You ignite the black market for the exchange rate."

The session, which was postponed twice for unclear reasons, was devoted to the discussion of determining the losses in the financial sector and how to deal with them.

Cerezola explained, in the beginning, that he held a one-on-one session with Salama, and another with representatives of the Finance and Budget Committee, and he found that there were significant differences in determining the financial sector losses and the calculation mechanisms.

Cerezola added, "We did not reach an agreement regarding determining the losses," noting that the losses of the Banque du Liban are liabilities of banks, and they are also liabilities of banks towards depositors, so "we do not know on which course we will work with you, and if there are no unified numbers, how then?" Will we complete these negotiations? "

Cerezola's criticism came after the resignation of Finance Director Alain Bivani and his clear reference to the nature of the conflict over the distribution of losses in the Bank of Lebanon and the banks.

The media office in the Ministry of Finance announced in a statement that "the Lebanese negotiating delegation held its sixteenth meeting with the International Monetary Fund yesterday, and dealt with the issue of how to approach the financial system losses and the need for the government to implement the required reforms as soon as possible, to complete the consultations next week."

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