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US Ambassador Warns Lebanon of ‘Major Consequences’ If Investigates Involvement of BDL Governor in Currency Crisis

16 May 2020 18:43

Islam Times - The US ambassador to Lebanon Dorothy Shea conveyed a clear message to the Lebanese authorities that “any political retaliation against the Governor of the Banque du Liban, Riad Salameh,” will have major consequences, according to the Lebanese daily, Al-Akhbar.

Al-Akhbar report mentioned that the financial prosecutor judge Ali Ibrahim’s decision to retract Salameh’s subpoena was based on not only personal or internal considerations but also the US intervention to protect the BDL governor.

Judge Ibrahim has been investigating into the dramatic increase of the US dollar exchange rate against the Lebanese lira and the involvement of the central bank in this case, interrogating the arrested head of cash operations at the BDL, Mazen Hamdan.

In a statement, the Central Bank said Friday the transactions with private traders over one month were of a limited quantity and were no match to the fluctuations witnessed in the market. It added that no transactions with exchange bureaus occurred after May 5.

“There are no manipulations in the exchange market as a result of transactions with the central bank,” it said.

So, would the judiciary close the investigations at this level or continue to unveil all the senior officials behind the monetary crisis despite the US intervention?

Story Code: 863113