Salameh says Lebanon’s growth rate is limiting employment.
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It is essential that Lebanon's Parliament meets soon to pass laws for development loans, debt issuance and banks, the central bank governor said Tuesday, urging politicians to break the political deadlock harming the economy.Lebanon is expected to record zero growth in 2015 and the central bank currently has no intention to change interest rates, Governor Riad Salameh told the Reuters Middle East Investment Summit in an interview. Lebanon, which issued a $1.3 billion eurobond last month, will not be able to issue new eurobonds next year unless Parliament can pass a law allowing that, Salameh said.The Central Bank is widely seen as one of the most dependable institutions in Lebanon.The program allows banks to borrow loans from the Central Bank at 1 percent interest for lending to different sectors. The Central Bank is keeping interest rates stable after lowering them at the start of the year, Salameh said.
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