LCP: Appointments of vice governors of Central Bank are based on clientelistic favoritism

  LCP Political Bureau
The Lebanese Communist Party (LCP) has serious concerns that the Council of Ministers, in its meeting scheduled to take place on Thursday, April 2, will select candidates to critical administrative positions based on sectarian and favoritism criteria.

These positions include four vice governors of Banque Du Liban, in addition to members of the Banking Control Commission in Lebanon (known as BCC), and the Capital Markets Authority.

The sectarian power - sharing formula had led to severe consequences on all levels but a significant effect on the social and economic levels. Critical socio-economic indicators were highly visible during the past years, but our party sees these indicators to be aggravating in light of the recent outbreak of COVID-19.

There will be direct effects on people’s lives if Coronavirus lasted for months and consequently increasing the intensity of the socio-economic crisis. In this context, LCP identified threats to existing on three levels: the livelihood of people with limited income, retirement funds and end-of-service benefits, and the unstable Lira exchange rate. The dangers that threaten the lives of the Lebanese people nowadays go in opposite direction to what the ministerial statement had promised. In conclusion, the appointments that the Council of Ministers will be discussing should be based on merit and competence, because this was one of the slogans that Lebanese had raised during October 17 uprising.

Politburo of the Lebanese Communist Party
April 1, 2020

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