Lebanon's Central Bank 2011 foreign assets up 5 percent

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Lebanon's Central Bank 2011 foreign assets up 5 percent

January 05, 2012 02:04 PM (Last updated: January 05, 2012 06:40 PM)

The Daily Star

BEIRUT: Lebanon's Central Bank's foreign assets grew 5.3 percent or $1.63 billion to $32.24 billion in 2011, their slowest pace since 2007.

The Central Bank’s total assets reached $70.3 billion at the end of December, 12.3 percent higher than 2010, driven by a 21 percent increase in the securities portfolio to $11.6 billion, and an 11 percent gain on the valuation of gold reserves which stood at $14.4 billion at the end of 2011.

- Reporting by Maria Karakoulian

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