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Lebanon’s president criticizes officials for delaying central bank audit

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Michel Aoun

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Lebanese President Michel Aoun said officials’ unwillingness to help with a scrutiny of the central bank risked depriving the country of critical external financial support.

In a televised speech, Aoun vowed to reveal what he called “the biggest heist in Lebanese history” and blamed the central bank, local lenders and others for responsibility for the country’s financial crisis.

“The drop in forensic control means a blow to the French initiative because without it, there is no international support, no CEDRE money, no Arab or Gulf support, and no help from the International Monetary Fund,” the president said, referring to the promises. Lebanon’s conditional aid package addressing concerns over corruption and financial mismanagement.

Officials from the Ministry of Finance, the central bank and Alvarez & Marsal auditors held a virtual meeting on Monday. The bank said it would submit a list of updated documents after the company in March agreed to rejoin Lebanon if the documents it had requested were fully submitted.

“It is now clear that the purpose of the audit block is to push the company to despair of leaving Lebanon and to stop the forensic examination and for the criminals to escape punishment,” Aoun said.

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