The President of the Republic, General Joseph Aoun, received, this afternoon at Baabda Palace, the Governor of the Bank of Lebanon, Dr. Karim Said, where he was briefed on the atmosphere and deliberations of the meeting of the Board of Governors of the Arab Monetary Fund, and the details of his election as Chairman of the Board.
President Aoun congratulated Governor Saied on his election, considering that this achievement “carries a very important significance, especially at the delicate stage that Lebanon is passing through on the path to economic advancement and reform of the financial system.”
The President of the Republic indicated that the election of the Governor of the Bank of Lebanon to chair the Board of Governors of the Arab Monetary Fund “embodies firm Arab confidence in Lebanese competence,” and reflects Lebanon’s continued active presence within Arab and regional financial institutions, despite the difficult economic and financial conditions it is going through.
Aoun stressed that the Arab confidence granted to Governor Saied reflects recognition of the role he plays in the path of financial reform, considering that this election constitutes important moral support for the path of economic recovery that the Lebanese state is working to achieve.
For his part, Dr. Karim Saeed expressed his thanks and appreciation to the President of the Republic, stressing that in this new responsibility he will carry “Lebanon’s image and interest,” and will work to strengthen relations with Arab financial institutions in a way that serves the process of economic recovery and restores confidence in the Lebanese economy.
Saeed pointed out that Lebanon faces major financial and economic challenges as a result of the repercussions of the current war and the ongoing economic crisis, stressing the importance of Arab cooperation in supporting the path of financial advancement and rebuilding confidence in the financial and banking sectors.
The election of the Governor of the Bank of Lebanon as Chairman of the Board of Governors of the Arab Monetary Fund comes at a critical stage that Lebanon is going through, amid official efforts to launch financial and banking reforms and reactivate relations with Arab and international financial institutions, in light of the continuing economic pressures and the repercussions of the war on the financial and monetary realities.
