The ‘Ponzi scheme’ behind Lebanon’s economic collapse
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
For years, Riad Salameh was praised for his revolutionary financial policies as head of Lebanon’s central bank. But suddenly, the country plunged into an economic crisis. And Salameh left the central bank with a disgraced reputation and, investigators believe, a massive personal fortune. So what happened? The FT’s Middle East correspondent Raya Jalabi walks us through the storm of allegations Salameh faces, and the decisions he made that economists think sparked the entire crisis.
Clips from Associated Press, CNN, TRT World, DW News, Al Jazeera English, France 24, Asharq News, Annahar News
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For further reading:
‘The magician’: Riad Salameh and the plundering of Lebanon
‘It’s cool to have money again’: wealthy Lebanese party out the crisis
Long-awaited auditor report slams governance at Lebanon central bank
Lebanon’s ex-central bank chief hit with international sanctions for alleged graft
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On X, follow Raya Jalabi (@rayajalabi) and Saffeya Ahmed (@saffeya_ahmed)
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