crisishit lebanon  which has no president and is ruled by a caretaker government  will also have to go without a central bank chief from next week says the countrys deputy premier no successor has been named for the embattled bank governor riad salameh 73 who steps down after three decades at the helm at the end of july saade chami told afp we need to appoint a central bank governor in consultation with all political parties chami said noting however that conditions are not ready for a new governor to be appointed within a week there is no other option but for the vicegovernors to assume their responsibilities under these circumstances he said adding that salamehs mandate will not be extended lebanon has been mired in a painful economic crisis since 2019 that has seen its currency lose around 98 percent of its value against the dollar and pushed most of the population into poverty salameh has been a central figure of the political elite that is widely blamed for the crisis he has been the subject of judicial investigations at home and abroad into allegations including embezzlement money laundering fraud and illicit enrichment charges he denies once hailed as the guardian of lebanons financial stability salameh is now wanted by france and germany in connection with alleged financial irregularities lebanon however does not extradite its citizens now his departure is set to create the latest highlevel power vacuum that could plunge the country into further disarray earlier this month the central banks four vicegovernors said they planned to resign unless politicians swiftly name an incoming governor lebanons central bank governor is named by cabinet decree for a sixyear mandate that can be renewed multiple times based on the finance ministers recommendation if the position is vacant the law stipulates that the first vicegovernor take over prime minister najib mikati is set to meet the vicegovernors in the next couple of days to find a solution chami said they have some demands they are asking for the government and parliaments support to continue their work he said a senior central bank official told afp this month that the vicegovernors did not want to take the blame for lebanons economic collapse while the political class continues to buy time despite the severe meltdown lebanese leaders have failed to enact all the reforms required by international lenders to unlock billions of dollars needed to save the economy chami who also heads lebanons international monetary fund negotiation team said the vicegovernors have also called for beirut to enact muchneeded reforms last month the imf warned that lebanons failure to implement reforms could have irreversible consequences and further jeopardise economic and social stability chami said about the reform demands that the more we delay the harder finding a solution will be adding that we have become experts in wasting time we are facing a crisis that has been worsening for the past 30 years he said we really need bold decisions and courage from the decisionmakers