The following 48 hours are crucial regarding the transfer of power from the outgoing Governor of the Central Bank of Lebanon, Riad Salameh, to the First Deputy Governor, Wassim Mansouri, after the end of Salameh's term this month.
This article was originally published in and translated from the online newspaper Al Anbaa.
In a press conference, Salameh presented what seemed like a review of the three decades he spent as the central bank governor, distributing accusations right and left and absolving himself of any responsibility for the economic crisis that has been plaguing Lebanon for the past four years.
It is expected that Mansouri will hold his press conference early next week.
In this context, financial sources told Al Anbaa that Mansouri will outline his vision for the coming phase and the obstacles he may face. Still, according to these sources, he has no choice but to shoulder full responsibility.
Financial and economic expert Louis Hobeika does not expect Salameh's departure from the central bank to lead to a financial collapse.
In an interview with Al Anbaa, he said, "The Central Council, which consists of the deputy governors, the Director General of the Ministry of Finance, the Director General of the Ministry of Economy and Trade, and the government's representative to the central bank, are the ones who determine the policies of the central bank, not just the governor alone."
According to Hobeika, all of these officials "have high efficiency in managing this important facility," he believes that parliament will approve the demands of the deputy governors to ensure continuity of work and the preservation of public funds.
Regarding Mansouri's upcoming press conference, Hobeika believes it will only focus on informing the Lebanese people of his new position and the financial policies he will adopt in the future, as there is a difference between the Governor of the central bank and the caretaker government.
On another note, political sources commented on the visit of the French envoy, Jean-Yves Le Drian, to Lebanon, stating that it did not bring anything new except for Le Drian's comments on the specifications of the president.
They mentioned that the visit itself was very ordinary and did not achieve the desired breakthrough, except for confirming Le Drian's return to Lebanon to continue his consultations after consulting with counterparts in the Quintet Committee to determine the nature of the dialogue he spoke about and the mechanism to ensure its success.
In response to Le Drian's comments, MP Nazih Matta, a member of the Strong Republic bloc, pointed out in an interview with Al Anbaa that Le Drian talked about two points: "The president's specifications and the program he might follow."
Matta emphasized that "the Strong Republic bloc is concerned about the goal and not the person of the president, as we need to know what he wants to achieve and what is expected of him. More clearly, we need to know why he was elected president of the republic. We are in contact with the opposition parties to have a clear vision."
However, the problem, in his opinion, "lies with the other team, as if this team continues with its position and insists on nominating former minister Sleiman Frangieh, we cannot expect anything from Le Drian's invitation for dialogue. Because the objectives of this team are clear and will not bring anything new, as it may lead the dialogue to the goal it wants, not considering the country's interests."
He called for "bilateral dialogue under the parliament's dome and the scheduling of open sessions to elect the president."
Under the pressure of financial anticipation and political deadlock, the Lebanese people are left waiting for hope from the "alcove" mentioned by Speaker Nabih Berri, hoping it will be the starting point for the long-awaited solutions.