Riad Salameh has been Lebanon's central bank governor for 'way too long,' minister says

Published: Jun 11, 2023 Duration: 00:01:53 Category: News & Politics

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we actually may has been the Central Bank governor for about as long as I've been alive uh he's the world's longest serving Central Bank Governor does the probe into some of his behavior and some of his activity offer hope for lebanon's future look um yes he's been there for decades some would say way too long yes it is way too long it is way too long especially when you get a country a whole country into a place where you feel that the monetary policy that has been put didn't help the economy didn't create entrepreneurs didn't create incentive it was all an interest-based banking system which made our young people leave the country to look for a hope to look for opportunities overseas because what Young Generation wants to only put their monies in the bank to get high interest rates not create jobs not be an entrepreneur not start up a company you cannot build an economy especially when the same banking system the same Governor that works on this system as well kept an economy running on import so change is always good 20 30 years is a lot for anybody in any position so I think change is coming to Lebanon I think there's a lot of good talent that can come and fix Lebanon monetary and physical policies but the most important thing in the central bank I can tell you is to do an overhaul of the governance system which doesn't make one person able to take such serious decisions on an economy it has to be more governed it has to be more structured that many people are engaged in decision making it's never been proven that it was good that one person makes one decision on a whole country especially when you see the results

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