Former Central Bank of Lebanon Governor Released on Bail

Lebanon's former central bank governor Riad Salameh walked free Friday after posting bail worth more than $14 million on corruption charges. The release ends months of detention for the man who ran Lebanon's monetary policy for three decades during the country's worst economic crisis in modern history.

A judicial official confirmed that Salameh left Bahannes Hospital in northern Beirut, where he had been held under security supervision while receiving medical treatment. The 73-year-old departed under tight security measures, away from media cameras.

The Beirut Court of Accusation initially set bail at $20 million plus 5 billion Lebanese pounds back in August, along with a one-year travel ban. But Lebanese courts reduced the bail amount to $14 million on Thursday, making his release possible once the full amount was paid.

Salameh's case carries significant weight for Lebanon's financial future. He served as central bank governor from 1993 to 2023, overseeing policies during Lebanon's economic collapse that wiped out most people's savings and sent the currency into freefall. The Lebanese pound lost over 90% of its value during his final years in office.

Multiple countries are pursuing Salameh on various charges. France, Germany, and Luxembourg have issued arrest warrants against him for alleged money laundering and embezzlement. Lebanese prosecutors are also investigating claims that he embezzled over $40 million in public funds.

For investors and creditors watching Lebanon's debt restructuring efforts, Salameh's legal troubles represent part of a broader accountability process. The country defaulted on its sovereign debt in 2020 and has been negotiating with the International Monetary Fund for a bailout package worth $3 billion.

His release doesn't end the legal proceedings. The travel ban means Salameh must stay in Lebanon while prosecutors continue building their case. This could complicate any potential extradition requests from European authorities who want him to face charges in their jurisdictions.