"What do you expect when you appoint a Merrill Lynch trader as the governor of the Central Bank? You prioritize quick, unreasonable gains that help benefit every middle and upper class citizen. But the game is over now."
Dr. George Corm stepped into office as the Minister of Finance in the 1998 Salim El Hoss government. He sought to reverse the years of post-war neoliberal policies set by savvy businessman Rafic el Hariri. The rentier economy which created an illusion of prosperity and got Hariri immense wealth and support was always meant to fail.
During his tenure, Corm designed a five-year Fiscal Stabilization Plan, prepared the 2000 Privatization law, paid all State arrears to the private sector, and prepared the introduction of VAT.
Right now, Corm is furious. With subsidies being lifted and foreign reserves missing, Salameh is still protected by most political parties.
