'The Lebanese state needs the IMF,' says BDL Governor Karim Souhaid

Reluctant to speak publicly since taking office last spring, BDL Governor Karim Souhaid delivered on Wednesday an extensive defense of his positions on financial reforms during an unprecedented meeting with members of the Association of Economic Journalists at the central bank’s Beirut headquarters.Souhaid said he wanted to address what he described as “incomplete and inaccurate” reports in the press regarding his role in this year’s renewed talks between Lebanon and the International Monetary Fund (IMF) for a financial assistance program conditioned on reforms.Several media outlets, including L’Orient-Le Jour, reported frustration expressed behind closed doors by IMF representatives during the last round of talks held in October in Washington, citing Lebanon’s many shortcomings in the process. More context Why the central bank may,...