Beirut, July 17 (Reuters) - Lebanon’s central bank will decommission the controversial exchange platform known as Sayrafa after governor Riad Salameh’s 30-year tenure ends this month, one of the institution’s vice governors told Reuters on Monday.
"It's about the way Sayrafa will be phased out," he said.
The exchange platform was set up in May 2021, 18 months into Lebanon's economic meltdown.
Chahine said the platform would be replaced by an "exchange rate determination electronic platform" set up through international providers.
The World Bank described it as one of the "weak, and often counterproductive, policies implemented by the Lebanese authorities since the outbreak of the crisis."
Persons:
Riad Salameh’s, Salim Chahine, Sayrafa, Chahine, Maya Gebeily, Josie Kao
Organizations:
Reuters, International Monetary Fund, Bloomberg, World Bank, Thomson
Locations:
Beirut, Sayrafa's