Free Patriotic Movement leader Gebran Bassil. (Credit: AFP/File photo)
BEIRUT — Free Patriotic Movement (FPM) leader Gebran Bassil said Saturday that “corrupt” power brokers in Lebanon want Riad Salameh to stay in power at Banque du Liban (BDL) “to protect them” despite his term being set to end this month.
Speaking during a camp for school students in the north, and in quotes relayed by the state-run National News Agency, Bassil also called Salameh's policies a "ponzi scheme."
Salameh, 72 years old, has been in charge of BDL since 1993, and is accused of being one of the main culprits behind the country's financial crisis.
In addition to Lebanon, Salameh is also under investigation in several European countries, where he is suspected of amassing substantial real estate and banking wealth through a complex financial setup and massive misappropriation of Lebanese public funds.
Bassil also called on Saturday “not to continue with the same policies of Riad Salameh, and I warn anyone who wants to continue with them, especially the vice-governors, that we will hold them responsible and prosecute them legally in the event they adopt the same illegal policies.”
The four deputy governors of the Banque du Liban (BDL) outlined on Thursday a strategy to “rectify the country’s monetary policy” and pave the way for a financial recovery.
Their plan is a major departure from Salameh's policies. It centers around floating the lira-to-dollar exchange rate in a “controlled manner” and using an “internationally recognized” exchange rate platform that will reflect the “real value of the lira.”
Salameh had instead adhered for years to financial engineering mechanisms to maintain an official LL1,507.5-to-the-dollar peg.
Bassil continued that corrupt politicians also want to “maintain this unconstitutional and illegitimate government" and allow caretaker Prime Minister Najib Mikati to take on presidential powers amid the months-long presidential vacuum, in a new accusation against Mikati.
The FPM and Bassil have opposed Mikati holding cabinet meetings since the end of Michel Aoun's term on Oct. 31, accusing Mikati of assuming certain presidential powers.
Despite having held 12 electoral sessions since last year, Parliament has failed to elect a new president due to a lack of political agreement.