Central Bank Governor Riad Salameh attends the Euromoney conference in Beirut, Monday, May 15, 2017. (The Daily Star/Mohammad Azakir)
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Central Bank Gov. Riad Salameh said Lebanese who invested in the U.K.'s stocks and real estate incurred losses after Brexit.It is the first time Salameh has said that Lebanese businesspeople who had investments in the U.K. suffered financial losses after Britain's referendum to leave the European Union. Asked if Lebanon would increase the interest rates on the U.S. dollar if the Federal Reserve decided to hike these rates in the future, Salameh said the spread between interest rates in Lebanon and the world is still important.The governor did not elaborate on the new initiatives the central bank is contemplating.As such, the BOP turned positive, deposits resumed their increase, and most important, interest rates were kept stable," Salameh said.He added that the presence of the Syrian refugees in Lebanon has cost Lebanon $13 billion over the last five years.The governor emphasized that Lebanon's future hinges on three promising sectors: the financial sector, the oil and gas sector and the digital knowledge economy sector.He was very upbeat about the future of the technology sector in Lebanon.
FOLLOW THIS ARTICLE