Lebanon Central Bank governor defends role in economic crisis

Informal restrictions on withdrawals have been in place for months. More recently, access to dollars have stopped. Banks face a liquidity crisis since they have been lending money to the state through the central bank, which is almost bankrupt. 

Lebanon’s foreign reserves are dwindling. Dr. Patrick Mardini proposed dismantling government monopolies being the channel through which government spending is done, which led to a debt of 175% of GDP. 

Dr. Mardini’s interview on Al Jazeera News on April 29, 2020. 

Click Here to Watch the Interview on Al Jazeera