Gebran Bassil's warning: Lebanon's financial policies must change post-Salameh era

The head of the Free Patriotic Movement (FPM), MP Gebran Bassil, has warned against continuing the same financial and monetary policies based on wastefulness and corruption after the end of the term of Lebanon's Central Bank governor, Riad Salameh. 

Bassil emphasized the need for genuine stability through adherence to laws, transparency, combating theft and corruption, and respecting market supply and demand dynamics. He criticized artificially fixing the US dollar exchange rate at the expense of citizens and depositors.

During a speech delivered in the presence of Former President Michel Aoun, Bassil stated that in a few days, Lebanon would be relieved of the "burden" of Riad Salameh, "one of the main pillars of corruption and the head of the governing financial system" in the country. 

He preferred to have Salameh dismissed, held accountable, and imprisoned rather than allowing him to extend his term, "but at least we prevented him from extending it, which his partners in the corrupt system were seeking."

Bassil also accused Salameh of intending to sabotage the situation after his term ends and manipulate public opinion to claim that he is crucial for monetary stability. He accused him of violating the laws to control the exchange rate, causing citizens to bear the brunt of the economic crisis.

The head of the FPM presented two possible solutions: appointing a competent and impartial person through the judiciary or political consensus on a suitable candidate instead of resorting to any unconstitutional actions by the government. 

He added that if neither of these options is possible, the first deputy governor could assume full powers with limited central council authority. He stressed that the threat of resignation is irrelevant since the resignation of the deputy governors does not absolve them of their responsibilities.

Bassil also hoped that the deputy governors would adhere to their official statement, which expressed their unwillingness to violate the laws, continue Salameh's policies, and call for a real and transparent "Sayrafa" platform. 

They also demanded a gradual unification of the exchange rate and legislative reforms by the parliament, ensuring any financial transactions outside the law were legally accounted for.

He urged the approval of reform laws and the development of a specific economic rescue plan. 

Bassil advocated for expanded administrative and financial decentralization, emphasizing that it does not mean dividing regions but empowering them. He criticized the current centralized system, which he believed choked the economy and led to corruption.

Regarding the call for dialogue, Bassil asserted that any meaningful dialogue must have clear objectives, a defined timeframe, and tangible results. 

"The end of the dialogue must be linked to election sessions that the Speaker of Parliament is obligated to call before the start of the dialogue, which must be on the program and specifications and may open prospects for new nominations or reach a candidate who receives 65 votes."

If successive sessions do not result in a president, he called for finding a consensus candidate.

Bassil continued on the presidential file, saying, "Every stubbornness is met with stubbornness, and every insistence on their candidate means insistence on our candidate, Jihad Azour, without giving up on him."

He also affirmed that Lebanon's success cannot be achieved by sidelining the Free Patriotic Movement, "reason must prevail, especially among those known for their sound judgment, and the country should not come to a standstill due to a personal word or position."