The Latest Breaking News from Riad Salameh

Outgoing President Says Lebanon at Risk of ‘Constitutional Chaos’

Outgoing Lebanese President Michel Aoun told Reuters on Saturday his nation could be sliding into "constitutional chaos", with an unprecedented situation of having no one in line to succeed him and a cabinet that is operating in a caretaker capacity. Aoun is set to leave the presidential palace on Sunday,…

Asharq Al-Awsat · Oct 29, 2022

Lebanon Mulls Closing Down Several Diplomatic Missions

Since the beginning of 2022, Lebanon’s diplomatic missions abroad have not received their operating expenses, while ambassadors and employees are still waiting for the transfer of their accumulated salaries since May. The sharp decline of foreign currency reserves at the central bank (Banque du Liban) prompted Governor Riad Salameh to…

Asharq Al-Awsat · Sep 2, 2022

Lebanon’s President Urges Judges to Prosecute Central Bank Governor

Lebanese President Michel Aoun has called on the country’s judges to “rise up for their dignity and not to be afraid of the oppression of those in power.” He also urged the judiciary “to be completely liberated from any persuasion or intimidation,” specifically in the case of the prosecution of…

Asharq Al-Awsat · Aug 17, 2022

Lebanon FX Reserves Down $2.2 Bln in 2022, $11 Bln Left, Says Central Bank Governor

Lebanese central bank governor Riad Salameh said Tuesday the bank's foreign currency reserves had dropped by $2.2 billion so far in 2022 to about $11 billion, about a third of the level three years ago. Salameh made the comments during a recorded interview with Lebanon's LBCI TV. As the interview…

Asharq Al-Awsat · Jun 22, 2022

Lebanon Security Forces Raid Central Bank Chief’s Home to Execute Subpoena

Lebanon's state security agency raided a house belonging to central bank Governor Riad Salameh on Tuesday night to execute a judge's subpoena, a judicial source and a security source told Reuters. The subpoena was issued in February by Judge Ghada Aoun after Salameh failed to show up for questioning as…

Asharq Al-Awsat · Jun 22, 2022

Corruption Probe into Lebanon Central Bank Governor Moves to Next Stage

A year-long corruption investigation into Lebanon's central bank governor Riad Salameh took a significant step forward on Thursday, when the country's top public prosecutor referred the case to a Beirut court. Prosecutor Ghassan Oueidat ordered Salameh and a number of unnamed associates be formally investigated for embezzlement, money laundering, illicit…

Asharq Al-Awsat · Jun 10, 2022

Lebanon Cenbank Governor, Brother Sue State over ‘Mistakes’ in Embezzlement Probe

Lebanon's central bank governor and his brother are suing the state over what they say were "grave mistakes" made by a public prosecutor in his investigation of whether they had embezzled public funds, according to a copy of the lawsuit. Their claim has led to concerns that the public probe…

Asharq Al-Awsat · Jun 3, 2022

Fitch Ratings Warns of Elections’ Impact on Lebanese Economy

A leading international credit ratings agency warned Friday that the results of this month’s parliamentary elections in Lebanon make it difficult for any coalition to have a governing majority, potentially complicating implementation of reforms. Shortly after the warning from Fitch Ratings, the Lebanese pound briefly hit new lows against the…

Asharq Al-Awsat · May 27, 2022

Fitch Ratings warns of elections' impact on Lebanese economy

A leading international credit ratings agency has warned that the results of this month’s parliamentary elections in Lebanon make it difficult for any coalition to have a governing majority, potentially complicating implementation of reforms

The Independent UK · May 27, 2022

Lebanon judge orders seizure of properties of central bank governor’s detained brother

A Lebanese investigative judge has ordered the seizure of properties belonging to Raja Salameh, the central bank governor's brother, who was arrested last month and charged with complicity in illicit enrichment, a judicial source told Reuters.

Reuters · Apr 21, 2022