Lebanon PM rebukes central bank governor amid deepening currency crisis

Lebanese Prime Minister Hassan Diab rebuked central bank governor Riad Salameh on Friday, questioning his performance after a steep fall in the pound currency and calling on him to clearly explain to Lebanese where policy was headed.

Diab said the crisis-hit country had suffered $7 billion in additional losses since the start of the year and that liquidity in the banking system was running out, with $5.5 billion in Lebanese deposits exiting in the past three months.

Diab said it was urgent that an economic reform plan, a draft of which emerged earlier this month, be quickly passed to avert further crisis.