Salameh's term ending soon: Who will be the successor amid financial crisis?

Lebanon's Central Bank Governor, Riad Salameh's term in office is set to end in July, which poses a complicated situation if a new president is not elected and a government is not formed to appoint a successor.

With the possibility of the presidential vacancy continuing, some experts believe that the current government, even if it is a caretaker, could still appoint a new governor in case of necessity.

But who will be the successor, and will he/she be willing to take on the challenges of Lebanon's financial crises? This is especially because the situation needs radical reforms to meet the International Monetary Fund's (IMF) demands.

However, under Article 25 of the Banking and Credit Law, "if the governor's position is vacant, the first deputy governor assumes the governor's duties until a new governor is appointed."

Some sources stressed that the current policies adopted by Salameh might not be accepted by the first deputy governor, Wassim Mansouri, and that, as it has become known, he does not wish to involve himself in a dispute with the Maronite community, and the position of ruler belongs to it. Furthermore, he may not want to risk getting involved in any political interference.

The possibility of Mansouri taking over as governor raises concerns as it remains unclear how long he would hold the position and whether he could implement any monetary policies. Moreover, what if he implements a plan that a newly-appointed governor later revokes?

However, Salameh's reappointment remains a possibility if the authority expresses its desire to renew his term and if he so desires.

Additionally, the inability of the caretaker government to appoint a new governor and the refusal of the first deputy governor to assume the governor's duties could make permissible what was once deemed forbidden.