Salameh was considering a proposal to prohibit Lebanese banks from converting their loan portfolios to Lebanese pounds. (The Daily Star/Mohammad Azakir)
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Bankers brushed off rumors that Lebanon will face dollar liquidity crunch if MP Michel Aoun is elected as president, noting that a new head of state will restore long overdue confidence in the country.One Lebanese newspaper suggested that Central Bank Governor Riad Salameh was considering a proposal to prohibit Lebanese banks from converting their existing loan portfolios from dollars to the Lebanese pound.This election and the formation of the Cabinet will probably encourage Gulf nationals to reinvest in Lebanon and pave the way for more inflows of money from the Gulf states to our country," Sader stressed.He also categorically denied some media reports that the election of a president could lead to the devaluation of the Lebanese pound.
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