Politics get in the way: Lebanon nears decision on BDL governor

Report by Maroun Nassif, English adaptation by Yasmine Jaroudi  

Lebanon's Cabinet, under the insistence of President Joseph Aoun, is set to appoint a new Banque du Liban (BDL) governor during its upcoming session on Thursday.  

According to sources, Finance Minister Yassin Jaber has submitted an official request to the Cabinet for the appointment, including a shortlist of three candidates: Karim Souaid, a financial and banking expert and Harvard graduate; Jamil Baz, another Harvard-educated financial expert; and Eddy Gemayel, a financial specialist at the International Monetary Fund (IMF).  

While the Cabinet's agenda, prepared by the General Secretariat, has not yet listed the appointment of a new BDL governor, a broader item titled "Various Appointments" has been included. This suggests that the issue remains open for discussion, particularly as ongoing consultations between the Presidential Palace and the Grand Serail continue.  

If a consensus is reached between President Aoun and Prime Minister Nawaf Salam before Thursday's session, the appointment is expected to move forward. 

Ministerial sources told LBCI that Karim Souaid is the leading candidate, as he has the president's backing, ministers aligned with him, the Lebanese Forces, and Parliament Speaker Nabih Berri. 

However, the two ministers affiliated with the Progressive Socialist Party (PSP) have yet to finalize their stance.  

Should the session proceed without an agreement, two possible scenarios could unfold. The first would involve a vote, requiring a two-thirds majority—16 out of 24 ministers—to confirm a candidate. This route risks exposing political tensions between the presidency and the premiership for the first time since the formation of the government. 

The second scenario would see the appointment postponed to a future session for further deliberations.