Lebanon appointed Karim Souaid as the new central bank governor. Souaid, a former HSBC banker, is tasked with leading Lebanon’s economic overhaul. Tensions emerged as Souaid was not unanimously chosen by ministers, and PM Nawaf Salam urged him to focus on protecting depositors’ funds and restructuring local banks. Lebanon’s economy has suffered from multiple crises, including the 2020 default. The country’s USD 750 mln bonds maturing in 2037 have fallen in value due to growing concerns over the country’s financial stability.