(The Daily Star/Mohammad Azakir)
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Lebanon can quickly proceed with the privatization of the Beirut Stock Exchange once the government endorses the draft law, Central Bank Gov. Riad Salameh said Tuesday.Salameh's remarks came during the Euromoney Lebanon Conference held at Phoenicia Hotel to discuss topics related to capital markets, the digital economy and challenges facing the Lebanese economy.Salameh emphasized the importance of developing a secondary market in Lebanon in addition to the launching of an electronic platform. Salameh said the Central Bank made significant injections of liquidity in various parts of the economy such as the knowledge sector in order to increase internal demand and contribute to economic growth.Salameh said Lebanon has enough liquidity to fund both its public and private sector without relying on IMF funds or aid from other countries."This is important because our country relies essentially on the transfers of Lebanese working abroad, and the strong banking sector in Lebanon is attracting them more and more and encouraging them to do their business from here," he said.He added that economic growth is projected to stand at 2 percent this year which is not sufficient to what is required to balance the economy but it is acceptable given what is happening in the region.
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