Al-Ayash to LBCI: BDL's intervention should be exceptional, not a daily occurrence

Former Vice-Governor of Banque Du Liban (BDL) Ghassan al-Ayash emphasized the necessity of political support for the deputy governors of Lebanon's central bank.  

However, he expressed concerns, stating, "Unfortunately, according to our knowledge, the political authority will accuse them of all problems and hold them responsible [...] The political authority is interested in having a scapegoat." 

Al-Ayash added that the actions taken by the deputy governors were useful in signaling to the state and the public that there is a problem. 

He suggested that if the deputy governors wish to continue using mandatory reserves, they would require a legal framework, but he remained skeptical about the likelihood of obtaining one. 

During an interview on LBCI's "Nharkom Said" TV show, al-Ayash explained that the intervention of the central bank should be exceptional, not a daily occurrence, and intervene in the foreign exchange market if there are US dollars.

He asserted that Sayrafa hides the bleeding of the central bank's reserves and losses, stressing that no reform plan exists. 

Addressing the citizens, he stated, "There should be no objection to rationalizing spending and increasing the state's resources. This is a normal matter in the state, such as increasing fees on alcohol and the like. But I also tell them that it is true that they did not make a mistake as citizens. Rather, the culprit is the [political] authority, but reform will naturally be divided among all."