The National Bloc: The Reform Path Is In Jeopardy

We congratulate Mr. Karim Souhaid on his appointment as Governor of the Central Bank of Lebanon and hope that he will reconsider his plan to write off 90% of bank deposits, as it constitutes a blatant disregard for depositors’ rights and their life savings.

The broad public and political support that accompanied this government has always been contingent on the reform path it committed to—one that has now suffered a major setback.

Hope remains in swiftly correcting this course by having the government put forward a clear economic and financial recovery plan that ensures the protection of depositors’ rights and binds all state institutions to uphold them, regardless of individuals.