Economy Minister Criticizes Salameh's 'Financial Engineering' Tactics
Economy Minister Mansour Bteish on Thursday lashed out at Central Bank Governor Riad Salameh's “financial engineering” tactics.
“The country is rife with talk about the difficult economic situation and people are sharing reports about an expected collapse and they're only wondering about its timing!” Bteish said at a press conference.
“Some officials are contributing to the spread of these reports,” the minister, who is part of the Free Patriotic Movement's bloc in government, lamented.
Referring to recent remarks by Salameh, Bteish said: “The central bank governor considered the financial deficit as the source of all problems, calling for downsizing the public sector as an only condition for curbing this deficit.”
“Is it only a problem of public sector? Shouldn't the state's financial and monetary administration be reconsidered?” the minister asked.
He added: “So far we have not seen a comprehensive report that clarifies the operations that the central bank has conducted under the 'financial engineering' label. What are these operations? Why are they being conducted? What is the cost? Have they achieved their targets? And what is their impact on the economy and the treasury?”
Source: Naharnet
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