Minister Ali Hasan Khalil, right, meets Central Bank Governor Riad Salameh in Beirut, Tuesday, May 20, 2014. (The Daily Star/Dalati Nohra, HO)
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Central Bank Governor Riad Salameh Tuesday warned of grave economic and social consequences if interest rates surged.Salameh and Khalil reviewed the possible impact of the revised salary scale on the monetary situation and the Lebanese pound.But Salameh said he was not worried about the monetary situation. Salameh declined, however, to comment on the discussions over the salary scale.Responding to a question, Salameh said the debt-to-GDP ratio could rise further if growing expenditures were not matched by a growth in the GDP.
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