The U.S. is intervening in Lebanon’s Central Bank leadership selection, focusing on anti-corruption and limiting Hezbollah’s financing. This move is part of a broader strategy to stabilize Lebanon’s economy, which has been in crisis for over five years. Various candidates are under consideration as the new government, formed without Hezbollah, seeks to address the financial turmoil preceding potential aid from the International Monetary Fund.
The United States plans to intervene in the appointment of Lebanon’s new Central Bank Governor to combat corruption and prevent Hezbollah’s financing through the banking system. This involvement reflects Washington’s heightened engagement in Lebanese affairs amidst a severe financial crisis that has persisted for over five years, resulting in economic collapse.
This intervention underscores the U.S. strategy to undermine Hezbollah’s influence, particularly after the Iranian-backed group’s power diminished following Israeli strikes in the previous year. Since then, Joseph Aoun, a U.S.-endorsed candidate, secured the presidency, and a new government was formed, excluding direct Hezbollah representation. This administration is now tasked with appointing a new Central Bank Governor, as the position has been held temporarily by an interim governor since July 2023.
According to various sources, the U.S. administration is evaluating numerous candidates for the central bank position, and discussions have occurred both in Washington and at the U.S. Embassy in Beirut. These candidates were questioned on their strategies to tackle “terrorism financing” and their willingness to confront Hezbollah, as reported by informed sources who opted for anonymity.
While the U.S. State Department and other officials have refrained from commenting on this matter, they emphasize the need for a competent candidate. An official from the Trump administration outlined clear criteria for consideration: candidates must not have any affiliations with Hezbollah or engage in corruption to ensure economic stability.
Several individuals have been identified as potential candidates, including Camille Abu Suleiman, Firas Abi Nassif, Jihad Azour, Philippe Jibran, and Karim Sweid. The next governor is expected to be pivotal in implementing necessary economic reforms, which are vital for Lebanon’s recovery amid the financial turmoil that began in 2019 due to widespread corruption and mismanagement by its political class.
The newly formed Lebanese government aims to resume negotiations with the International Monetary Fund concerning a financial aid program, with economic reforms being essential for gaining support from both Western and Arab nations. Additionally, discussions between the U.S. and Saudi Arabia regarding candidates for the governorship are also taking place.
This change in leadership follows the tenure of Wassim Mansouri, who temporarily succeeded Riad Salameh after a scandalous exit after three decades. Salameh’s administration, considered financially effective, ultimately suffered due to Lebanon’s economic collapse. International sanctions have since been imposed against him, as he faces various corruption allegations, further complicating Lebanon’s financial standing on the global stage.
In summary, the United States is significantly intertwining its foreign policy with Lebanon’s economic governance through its involvement in the selection of a new Central Bank Governor. The chosen individual will be crucial for implementing reforms intended to stabilize Lebanon’s beleaguered economy and combat corruption. The focus remains on a candidate free from Hezbollah ties and corrupt practices, amidst ongoing discussions with regional allies, particularly Saudi Arabia, to identify suitable candidates.
Original Source: www.jordannews.jo
