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Riad Salameh (Governor of Lebanon's central bank, Banque du Liban, 1993–2023) — statement to CNBC on the day he left office, 31 Jul 2023, rejecting blame for the financial collapse: "It is untrue to hold me directly and solely responsible," arguing exchange policy was set by successive governments, not the central bank.

English LB flag Lebanon 2023-07-31 Tier 2 — primary or translation 38 words

Politician: Riad Salameh

Original source: https://www.cnbc.com/2023/07/31/salameh-lebanons-central-bank-chief-steps-down-after-30-years.html

Content

verbatim · English
It is untrue to hold me directly and solely responsible.

The exchange policies are determined by the government and [the Banque Du Liban] applies them in every government that was elected since 1993, their target was exchange stability.

English translation

translation
[Source is English (CNBC, reporting his direct statement on the day he left office); tier-2, confirmed verbatim against the fetched page. NOTE: in the second sentence "[the Banque Du Liban]" is CNBC's EDITORIAL bracket clarifying that he was referring to the central bank — it is the outlet's insertion, not Salameh's exact word; the rest of both sentences is his verbatim quote as published.] Self-defense / declared position of Riad Salameh — Governor of Lebanon's central bank (Banque du Liban) from 1993 until 30 July 2023, who served under 12 prime ministers and was once feted as a financial wizard but is now widely blamed for the country's catastrophic financial collapse (the Lebanese pound lost ~100% of its value; system-wide losses estimated at ~$70 billion; the savings of generations wiped out). He faces international arrest warrants and fraud/embezzlement allegations in several European countries. On the day he stepped down (31 July 2023) he REJECTED responsibility for the collapse — "It is untrue to hold me directly and solely responsible" — and argued that exchange-rate policy is set by the GOVERNMENT, not the central bank: that the BdL merely "applies" the policies of every elected government since 1993, whose "target was exchange stability," thereby deflecting blame onto Lebanon's political class. (Critics, including a former BdL vice-governor, counter that he ran a "Ponzi scheme" propping up an overvalued pound via borrowing from banks funded by expatriate deposits.) This captures a distinct dimension in the dataset: the FINANCIAL-ESTABLISHMENT / TECHNOCRATIC self-defense and the politics of ELITE IMPUNITY — the unaccountable institutional insider attributing systemic catastrophe to others. He left office to cheering loyalists with no authority holding him to account, illustrating (as opposition figures noted) a ruling class that "undermined" accountability. [Axes: economic (monetary / exchange-rate management; the currency peg; financial-system governance), governance / accountability (institutional impunity; responsibility for systemic failure; corruption allegations), regime-stance (a pillar of the post-civil-war sectarian establishment).]

How to cite this document

This is a third-party primary text. Cite the original author and source — Tayyar hosts the verbatim excerpt for research access, but Tayyar is not the author. The "Retrieved via" line at the bottom records your access path through Tayyar for transparency.

In-text (Salameh, 2023)
APA 7
Salameh, R.. (2023). Riad Salameh (Governor of Lebanon's central bank, Banque du Liban, 1993–2023) — statement to CNBC on the day he left office, 31 Jul 2023, rejecting blame for the financial collapse: "It is untrue to hold me directly and solely responsible," arguing exchange policy was set by successive governments, not the central bank.. cnbc.com. Retrieved July 28, 2026, from https://www.cnbc.com/2023/07/31/salameh-lebanons-central-bank-chief-steps-down-after-30-years.html
Chicago (author-date)
Salameh, Riad. 2023. "Riad Salameh (Governor of Lebanon's central bank, Banque du Liban, 1993–2023) — statement to CNBC on the day he left office, 31 Jul 2023, rejecting blame for the financial collapse: "It is untrue to hold me directly and solely responsible," arguing exchange policy was set by successive governments, not the central bank.." cnbc.com. Accessed July 28, 2026. https://www.cnbc.com/2023/07/31/salameh-lebanons-central-bank-chief-steps-down-after-30-years.html.
BibTeX
@misc{doc-document-2211175a-b1a3-495c-8933-75ecdc41e75f,
  author       = {Salameh, Riad},
  title        = {Riad Salameh (Governor of Lebanon's central bank, Banque du Liban, 1993–2023) — statement to CNBC on the day he left office, 31 Jul 2023, rejecting blame for the financial collapse: "It is untrue to hold me directly and solely responsible," arguing exchange policy was set by successive governments, not the central bank.},
  year         = {2023},
  date         = {2023-07-31},
  howpublished = {Online; hosted at cnbc.com},
  url          = {https://www.cnbc.com/2023/07/31/salameh-lebanons-central-bank-chief-steps-down-after-30-years.html},
  urldate      = {2026-07-28},
  note         = {Retrieved via Tayyar at https://tarekgara.com/tayyar/documents/2211175a-b1a3-495c-8933-75ecdc41e75f},
}

Retrieved via Tayyar: https://tarekgara.com/tayyar/documents/2211175a-b1a3-495c-8933-75ecdc41e75f on July 28, 2026. Tayyar is a research host for primary sources, not the author of this document.