Problem with Lebanon is their lack of confidence, says Carlos Ghosn

Lebanon’s economic hardship is restoring confidence not a lack of financial assets, Carlos Ghosn, the former CEO of Renault and Nissan, informed a news conference in Beirut to start a management training programme at a Lebanese university.

“On paper, the assets are here,” he said, saying the challenge facing the country which is facing an economic crisis that has paralyzed its banking industry was “the restoration of confidence”.

Last year, Ghosn fled to Lebanon, his childhood home, even though he was awaiting trial on charges of under-reporting earnings in Japan as well as charges related to breach of trust and misappropriation of company funds. Ghosn has denied all these charges.

Japan has asked Lebanon to extradite Ghosn but Lebanon has no extradition treaty with Japan.