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Lebanon's commercial banks lack the liquidity required to repay depositors under a government proposal aimed at plugging an $80 billion gap in the financial system, an adviser to the lenders said, complicating an already difficult negotiation to kick-start the country's economic recovery....
Lebanon has picked former HSBC managing director, Karim Souaid, as its new central bank governor, to lead a policy overhaul and kickstart an economic recovery. Bloomberg's Paul Wallace reports on the reaction to the appointment plus a suspected US airstrike on Houthi-controlled areas in Yemen.
(Source: Bloomberg)...
Lebanon has named Karim Souaid as its new central bank governor. Souaid is the founder of Dubai-based private equity firm, Growthgate Partners, and has previously worked at HSBC. But Kim Ghattas, author of Black Wave told Bloomberg's Horizons Middle East and Africa host Joumanna Bercetche that many in Lebanon are disappointed by the appointment of a former banker.
(Source: Bloomberg)...
Lebanon selected Karim Souaid as central bank governor, picking a private-sector finance specialist to lead a long-delayed overhaul of the financial sector and kickstart an economic recovery....