Report: Salameh's Term is Likely to be Renewed

The majority of Lebanon's political parties have agreed on the renewal of the term of Central Bank Governor Riad Salameh, and the debate is focusing on whether the renewal will be for three or six years, al-Akhbar daily reported on Friday.

Prime Minister Saad Hariri, Speaker Nabih Berri, MP Walid Jumblat, Hizbullah and the majority of the political forces said they support an extension of Salameh's term, unnamed sources told the daily.

The parties have reported their position to President Michel Aoun, who has not announced his full approval as yet.

However, banking and government sources have confirmed that Foreign Minister and Free Patriotic Movement leader Jebran Bassil has informed Salameh of the FPM's approval that he remains in his post.

The debate focuses now on a mandate extension for either three or six years. Hariri is pressing for a quick decision and not to wait until the end of Salameh's mandate in July.

Arrangements are under way to place the extension on the agenda of the next government meeting, said the daily.

The government usually discusses whether to renew the term of the Central Bank Governor. Salameh' term ends in July 2017.

On August 1, 1993 he was appointed Governor of the Central Bank of Lebanon for a six-year term and was reappointed for two further terms in 1999 and 2005.