Beirut, Lebanon – Lebanon’s council of ministers has elected Karim Souaid as central bank governor – a candidate backed by the country’s bank lobby and a businessman who many say is emblematic of the malaise Lebanon is suffering.
Just out of a brutal war with Israel, Lebanon is in dire need of reconstruction and recovery money. Since 2019, Lebanon has suffered through one of modern history’s worst economic crises. State services have been battered, including the electricity sector, leaving those who can afford the cost to rely on private generators.
