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SATURDAY, 18 MAY 2013
02:41 PM Beirut time
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Financial inflows rose in 2012: Central Bank
Reuters
The Lebanese Central Bank. (The Daily Star)
The Lebanese Central Bank. (The Daily Star)
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BEIRUT: The latest statistics on financial inflows published by the Central Bank of Lebanon revealed that they rose annually to reach a total of $13.5 billion during the first 11 months of 2012. Experts say that the progress stems from a low base, as during last year’s same period, in which financial inflows stood at $11.9 billion, Lebanon’s external accounts were hit by quite weak net outflows in the first month of the year subsequent to the government’s resignation. Capital flowing into Lebanon can take several forms, ranging from nonresident deposit inflows to inward remittances and cash transfers from tourists. Nonresident deposits went up by $1.9 billion between end-2011 and end-November 2012 compared with a rise of $2 billion recorded in the same period of 2011. This year’s rise accounted for 26 percent of the increase in total deposits. With regard to remittances, preliminary estimates from the World Bank suggested that inflows have remained more or less steady. 

 
A version of this article appeared in the print edition of The Daily Star on January 11, 2013, on page 5.
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Story Summary
The latest statistics on financial inflows published by the Central Bank of Lebanon revealed that they rose annually to reach a total of $13.5 billion during the first 11 months of 2012 . Experts say that the progress stems from a low base, as during last year's same period, in which financial inflows stood at $11.9 billion, Lebanon's external accounts were hit by quite weak net outflows in the first month of the year subsequent to the government's resignation.
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