Riad Salameh, the governor of Lebanon’s central bank, Banque Du Liban, has confirmed the end of his 30-year term amid uncertainties about the institution’s future leadership. In a TV interview with Lebanese Broadcasting Corporation International on Wednesday, Salameh dispelled rumors of a term extension, stating that his deputies will assume control after his departure on July 31.
The Lebanese government has yet to appoint a new governor, exacerbating financial instability in a country already mired in a deep economic crisis. Politicians are divided over the choice of successor, leading to a broader impasse that has also left the country’s presidency vacant.
Adding to the uncertainty, the central bank’s four vice governors threatened to resign earlier this month if a successor to Salameh is not appointed, raising the specter of a leadership vacuum at a crucial juncture. Lebanon’s financial crisis has resulted in the loss of billions of dollars in deposits.