Karim Souaid has been appointed as governor of the Central Bank of Lebanon (BdL), the country’s council of ministers announced on March 27.

The appointment of Souaid, who heads an asset management firm in the UAE, followed intense negotiations that began when Lebanon’s new president and prime minister took office in January. The selection process for the new governor also involved consultations with the US government.

Souaid was the candidate favoured by president Joseph Aoun. Media reported that

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