The visits of the Acting Governor of the Central Bank of Lebanon, Wassim Mansouri, to both Britain and France have yielded positive results in restoring relations with the European and British central banks. According to "An-Nahar," Mansouri's meeting with the Governor of the Bank of England, Andrew Bailey, marked a precedent in London, as it is typically uncommon for the Governor of the Bank of England to meet with governors of foreign banks.
The bilateral discussions between the Lebanese and British governors laid the groundwork for anticipated cooperation between the two banks, which could positively affect Lebanon's banking and financial landscape amidst the ongoing crisis, especially as Mansouri updated the Bank of England's governor on the reform measures being implemented in Beirut. The visit was also attended by a delegation from the British Embassy in Lebanon, headed by Ambassador Hamish Caul.
Notably, Mansouri held meetings with British financial and economic officials, including Tom Stourton, the Economic Affairs representative in the British Foreign Office. Additionally, Mansouri conducted meetings in Paris with several officials from the French Central Bank to revive and restore normal relations between the two central banks, a development that would benefit Lebanon, as Paris had previously issued remarks followed by legal measures, according to "An-Nahar."
These Lebanese initiatives undertaken by Mansouri in European capital banks complement his earlier meetings in the Arab world, particularly in Gulf countries, where both Riyadh and Abu Dhabi showed interest in his steps. Saudi Arabia extended two special invitations to Mansouri, which he accepted to attend two conferences and also held several financial and banking meetings in the kingdom that reflected satisfaction from both Saudi and Lebanese sides.
Observers have pointed out clear positives in re-establishing Lebanon’s financial and banking trajectory with global capitals, as this would facilitate re-engagement with correspondent international banks and pull Lebanon out of the zones of international isolation or the negative stagnation it has faced for years. Moreover, it contributes to ensuring that Lebanon does not remain in the international grey area.
Capitals are now closely monitoring the political forces' performance to approve a package of legislative financial reforms that address Lebanon's crisis, particularly after the central bank has charted its internal reform path, stabilized monetary conditions, and halted the waste occurring through state financing while protecting depositors' funds. These matters have become salient in the calculations of international capitals, which commend Mansouri's performance, considering him to be on the right track.
