Banque Du Liban Governor Riyad Salameh Salameh told LBCI on Wednesday that the task of BDL deputies is to take charge of the institution after the end of his tenure.
“I hope it remains resilient as it is. The crisis lies in the demands they presented to the government, and the Central Bank has nothing to do with the relationship between me and the deputies,” Salameh said during an interview with LBCI’s Hiwar al-Marhala talk show.
He also voiced appreciation and respect for BDL deputies, adding that they formed a coherent team for three years.
“Despite our differences, our main concern was serving Lebanon. Today, we are at a crossroads as there is no appointment of a new governor,” he added.
On another note, Salameh stressed that the Gross Domestic Product (GDP) has increased to 55 billion dollars and that the deposits in the banking sector have risen to over 170 million dollars during his two terms.
“On July 31st, my two terms will come to an end, and this matter is settled,” he confirmed.
Meanwhile, Salameh noted that no one practices dictatorship in the BDL Central Council, adding however that the first significant reform involves ruling out the possibility of borrowing money from BDL.
“BDL managed, through Sayrafa, to be the main player in the money market and to control it,” he added.
The BDL governor stressed that the economy benefited from Sayrafa platform, adding that the month of June was the best month in the economic movement since 2013, according to a study by a bank.
As for the deputies’ project to create an alternative platform other than Sayrafa, Salameh stressed that establishing a platform without the intervention of the Banque du Liban takes time.
“BDL must remain in the market because there is no offer for the dollar, but rather a demand that threatens the lira,” he continued.
“I do not want to cancel Sayrafa, as it has made the central bank a major player in the market, and the difference between Sayrafa and the market, which has become about 8%, is in Lebanese pounds,” he stressed.
“All the talk about that we can manipulate the exchange rate in the market is baseless. The market has confidence in my words, and when I say that I will intervene, then the exchange rate will change,” he noted.
On another note, Salameh stressed that they have done everything that the International Monetary Fund asked of them, starting with auditing the assets of the Banque du Liban and passing through the implementation of banking reform.
"Some do not want to agree with the fund," he stressed.
This as Salameh noted that BDL wants to reconstitute the deposits, and they did not allow the banks to go bankrupt because of the deposits.
“Everyone who attacked us did not propose any project, and we want to keep the liquidity for the Banque du Liban, and will not evade our responsibilities,” he added.
“The deficit in the trade balance is historical because we do not have natural resources and exports, and we want the dollar to be accessible to everyone, and this is what happened,” he noted.
The governor explained that the existing gap is worth $71 billion, adding that there must be an approach to study deposits that can be paid in dollars and those that can be paid in Lebanese lira.
“In a few days, I will turn a page in my life, and the first serious reform steps will begin with canceling the possibility of the state borrowing from the Banque du Liban,” Salameh noted.
Salameh noted that there are 20 billion US dollars that the state borrowed from Banque du Liban, in addition to 54 trillion Lebanese pounds, and 16 billion dollars, adding that these are not losses for the BDL.
In response to Bassil, Salameh said that if it was true that they were doing a "Ponzi scheme" they would not have been able to preserve the market.
“They cling to slogans to convince people that Riad Salameh was the one who stole them, but they were shocked that the Banque du Liban is still steadfast,” he noted.
Salameh noted that the leaks that occurred, especially from the judiciary abroad, showed that a group that targeted him for certain reasons was behind them.
“This group assigned a lawyer who was not honest in his report,” he added.
Salameh stressed that there are no “Forry” amounts in the Banque du Liban, and neither he nor Marian Howayek have anything to do with them.
The governor noted that he did not appear before the French judiciary as Marianne Howayek did, because he was not duly notified.
“The lawyer in France asked Judge Aude Buresi to duly notify me, but she refused and requested the issuance of an international arrest warrant against me,” Salameh noted.
Salameh said that he gave a lot to Lebanon, and do not hold himself responsible for the collapse, as they want to turn him into a scapegoat.
"I refuse to personalize the Central Bank in Riad Salameh, which financed the state and did not spend the money," he concluded by saying.