File - Salameh is in Washington for an annual meeting of World Bank and IMF officials. (The Daily Star/Mohammad Azakir)
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Central Bank Governor Riad Salameh said the Federal Bank will not be affected by the U.S. accusations that Cyprus-based FBME Bank was involved in money laundering and terrorist funding.Salameh said the Central Bank agreed to provide the government with the necessary funds in foreign currency to settle the latter's obligations in foreign currency, given that the government reached its borrowing ceiling and requires Parliament's authorization for such borrowing.He considered that supporting the government's needs in foreign currency would not weaken the Central Bank's balance sheet, and added that the Bank decided to increase the issuance of Certificates of Deposit in foreign currency and to accept additional bank deposits in foreign currency despite the high interest rates on such deposits.
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