Lebanon's Acting Central Bank Governor, Wassim Mansouri, confirmed that "many people have suffered due to the economic crisis in the country, while many others have benefited from it." In response to a specific question from "Nidaa Al-Watan," during a meeting with unionists and public sector officials, he stated: "The gold in the Central Bank of Lebanon is in good shape, and we will not tamper with the mandatory reserve," denying "the rumors circulating about the possibility of declaring Lebanon bankrupt in the coming months."
He added, "I do not sell dollars but rather the Lebanese pound, and when we transition to the Bloomberg platform, things will be more organized and transparent, and we will be able to control the pound better to prevent repercussions and speculation. What is delaying the start of the Bloomberg platform is the lack of a minimum level of stability, which the International Monetary Fund has also announced, and we cannot risk monetary stability." He further explained that "Bloomberg cannot come to Lebanon due to the unstable security situation in the south and regional developments," clarifying that "class (A) traders will be allowed to use this platform for trading."
Mansouri remarked, "I have not changed the exchange rate, and I oppose issuing piecemeal solutions from the central bank," adding, "Give me more time because I have been in charge for five months, and there is now a surplus of one billion dollars at the central bank." He concluded, "I have not purchased a single dollar as the Central Bank of Lebanon since August, but I have offered a cash block in Lebanese pounds. Yes, to fostering a positive atmosphere. Be optimistic, and you will find good."
**Restoring Depositor Funds as Part of a Comprehensive Plan**
Mansouri previously stated in front of unionists, economists, and legal experts that "there is no economy without banks, and we must rebuild the relationship between depositors and banks," calling for "a constructive reconciliation in this regard because we need to define what kind of economy we want for Lebanon's future." He added, "From my humble experience, I find there is a problem with the figures concerning the Lebanese economy, and no rational person is convinced that the full amount of depositors' funds will be returned by February of this year, but we will do everything necessary to restore these funds as part of a comprehensive plan."
In response to another question, he answered: "If everyone fulfilled their duties in the country, Lebanon would have developed. I am doing my part as acting governor of the Central Bank of Lebanon, and very soon the budgets of the banks and the Central Bank will be based on the actual dollar price, unlike the current situation." He continued, "What has happened today is that state finances have become organized, and we will move to the actual price. Decision 151 is unfair, but that was the maximum available at the time. However, for the first time, there is political will in the country to find quick solutions regarding financial issues."
For its part, sources from the Central Bank of Lebanon stated to "Nidaa Al-Watan": "Mansouri will soon hold a press conference to explain what will happen in the upcoming phase," confirming that "previous circulars remain in effect and will be maintained, and solutions will be found for the canceled circulars to create better conditions for depositors." The sources concluded, "The central bank is about to issue a new circular for other depositors who have not benefited from circular 151, and by the end of the month, the situation regarding it will become clear after its study by the Central Bank of Lebanon, which Mansouri will announce in the coming weeks."
