Torbey highlighted role of banks in assisting national economy.
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Lebanese banks deposited $7 billion at the Central Bank in 2015 to boost foreign currency reserves, the head of the Association of Banks in Lebanon Joseph Torbey announced Thursday.Torbey also focused on the state of public finance.According to Torbey, this caused public debt at the end of 2015 to increase by 7.3 billion, translating to a debt-to-GDP of 138 percent compared to 134 percent in 2014 .Torbey said that total bank loans to both the private and public sectors at the end of 2015 reached $86 billion, 44 percent to the public sector and 56 percent to the private.Torbey said that the capital-adequacy ratio in Lebanon has exceeded the international average, reaching 15.1 percent at the end of 2015 .
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