Salameh lauds Lebanon’s resilience. (The Daily Star/Mohammad Azakir)
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As the year draws to a close, Banque du Liban Governor Riad Salameh says he does not foresee a "major crisis," but "only a slowdown" in Lebanon next year, while emphasizing the stabilizing role of the banking sector.Salameh acknowledged that Lebanon continued to face major financial challenges this year, with GDP growth "almost zero" (though inflation also remained around zero) and the credit sector experiencing moderate growth of about 4 percent.This includes a $1.5 million credit enhancement package, whereby it will lend funds at a rate of 1 percent to banks, which will in turn lend to housing, environmental, and productive sectors.On the regulatory side, Salameh noted that parliament recently passed four anti-money laundering laws that would prevent Lebanon from facing international sanctions and help maintain banking secrecy.
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