Between post-election deliberations, fresh US sanctions on Hizbollah and Iran-Israel tensions at a boiling point, geopolitical talk rules in Lebanon today. But behind the scenes, the central bank is maneuvering to avoid a debt crisis.

 

Lebanon’s central bank, Banque du Liban (BDL), is at it again. On 7 May as the country awaited results from the first parliamentary election in nine years, BDL Governor Riad Salameh confirmed plans to execute a debt swap arrangement under which...