Lebanese President Joseph Aoun receiving the Governor of the Bank of Lebanon, Karim Souhaid, at the Baabda Palace, on May 23, 2026. Photo taken from the X account of the Lebanese presidency.
President Joseph Aoun received Banque du Liban (BDL) Governor Karim Souhaid on Saturday, following Souhaid’s election as chairman of the board of governors of the Arab Monetary Fund (AMF) for a one-year term, saying that this ‘’embodies strong Arab confidence in Lebanese competencies’’ and ‘’strengthens Lebanon’s active presence in regional financial institutions.’’
The head of state also expressed appreciation for ‘’this achievement, which is particularly significant, especially during the delicate phase that Lebanon is experiencing on the path to economic recovery and the reform of its financial system,’’ according to the Lebanese presidency. He stressed that this election reflects 'the recognition of the central role' played by the BDL governor in the reform process and constitutes ‘’moral support that bolsters the trajectory of economic recovery sought by the Lebanese state.’’
For his part, Karim Souhaid, elected at the 49th meeting of the AMF’s board of governors held via videoconference on May 4, assured that he would carry ‘’the image and interests of Lebanon’’ in this new role. He also affirmed that he would work to ‘’strengthen relations with Arab financial institutions’’ in order to ‘’support the economic recovery process’’ and ‘’help restore confidence in Lebanon’s economy, affected by the repercussions of the ongoing war.’’
The Arab Monetary Fund is a regional financial institution established in 1976 by the 22 member countries of the Arab League. Its operations borrow some elements from the International Monetary Fund (IMF), as it can provide loans to countries in difficulty or monitor the financial stability of its members. However, the AMF’s programs are much more flexible and less demanding than those of the IMF, which tie financial assistance to the implementation of reforms.
