As Lebanon Collapses, the Man With an Iron Grip on Its Finances Faces Questions
The New York Times
People can’t get their money from banks, the currency has crashed and Riad Salameh’s reign at the central bank is facing allegations of fraud.
BEIRUT, Lebanon — For decades, Riad Salameh, Lebanon’s central bank chief, was lauded at home and abroad as a financial wizard who kept the economy running and the currency stable despite wars, assassinations and frequent political turmoil. Not anymore. This country at the crossroads of the Middle East is suffering from a collapse of historic proportions: Its banks are largely insolvent, unemployment is soaring, its currency has crashed and many Lebanese blame Mr. Salameh for shortages that have left them struggling to afford food, scrambling to find medication and waiting in long lines to fuel up their cars.
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