Lebanon’s central bank controversy shows limits of technocracy
Nadim Shehadi
The controversy over last week’s appointment of Karim Souaid as the new central bank governor in Lebanon reveals the limits of what a technocratic government can achieve. The process was accompanied by an intensive and sometimes vicious media campaign, including personal attacks and populist conspiracy theories. It divided the country along unexpected lines, creating a rift between newly elected President Joseph Aoun and his prime minister, Nawaf Salam, as well as one within the Cabinet.
One wonders what all the fuss was about. If the most competent people cannot discuss a technical problem, then the problem is not technical and needs a broader perspective to address other ideological and moral dimensions.
There is little doubt that the reformist government of PM Salam, if credentials are to be considered, is probably the most honest and technically competent in the history of humanity. I recall just one British prime minister ever having a doctorate, while ours has a doctorate from France and a Master of Laws from Harvard, in addition to a brilliant academic and diplomatic career, during which he presided over both the UN Security Council and the International Court of Justice. French historian Henry Laurens described Salam as “the master of the world.” His Cabinet of 24 ministers includes thirteen doctorates, three Masters of Laws, three Masters of Business Administration, two brigadier generals and one major general.
Due to the country’s economic crisis and the devaluation of the currency, the salary of Cabinet ministers is barely equal to that of their driver. This also implies that ministers largely have to pay staff and cover expenses out of their own pocket, while having left brilliant careers and businesses behind in order to perform their patriotic duty. You could not find a more dedicated bunch.
One of the risks of such excessive........
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