By Alisha Houlihan for AMLi
Lebanon’s central bank will not print money to lend the state or cover the crisis-hit economy’s projected deficit, acting central bank governor Wassim Mansouri said on Friday, calling on leaders to undertake urgent financial reforms.
Mansouri told a press conference at the central bank the draft budget for 2023 included a state deficit of 24%, or 46 trillion Lebanese pounds. That would amount to about $500 million at the parallel rate for the collapsed currency, according to a calculation by Reuters.
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