April 29, 2020 / 10:20 AM / a month ago

Lebanon c.bank governor rejects PM's criticism, says no need for deposits haircut

BEIRUT, April 29 (Reuters) - Lebanese central bank governor Riad Salameh defended his record on Wednesday, rejecting criticism from the prime minister that he was to blame for a financial crisis and assuring savers there was no need for a haircut on deposits.

Salameh said the central bank did not hide information and that policies of financial engineering have helped buy Lebanon time to enact reforms and finance critical imports.

“There is absolutely no need for a haircut and a haircut should not be adopted,” Salameh said in a televised address.

He said that while the central bank had financed the government, it was the government that spent the funds. (Writing by Eric Knecht/Tom Perry/Samia Nakhoul; Editing by Toby Chopra)

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