Government shouldn’t bank on Makhlouf’s advice for reducing nation’s debt

Comment: Central Bank governor’s assessment that the state shouldn’t be supporting ‘loss-making enterprises’ may be accurate but it was not helpful

20th September, 2020
Government shouldn’t bank on Makhlouf’s advice for reducing nation’s debt
Gabriel Makhlouf, the governor of the Central Bank, has penned a pre-budget submission that was ‘unnecessarily harsh and not particularly well-timed’ Picture: Son Photographic

Gabriel Makhlouf, the governor of the Central Bank, appears to be a tough nut, uninterested in courting public popularity. He is unlikely to see that as being part of his job description and, in fairness, neither should he. Even so, his pre-budget submission to Paschal Donohoe and Michael McGrath was unnecessarily harsh and not particularly well timed.

Makhlouf advised the government that the continuing effects of Covid-19 may prevent many businesses in many sectors, which...

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