Central Bank governor Riad Salameh speaks in Beirut, Friday, July 31, 2015. (The Daily Star/Mohammad Azakir)
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Most bankers and economists hailed the renewal of Central Bank Governor Riad Salameh's term but stressed the step is not enough if not matched by serious government efforts to reduce the deficit and shore up the economy."There is no doubt that the market reacted positively to the news of the renewal of the governor's term, and the best illustration was the improvement in the prices of the Lebanese sovereign Eurobonds in London," Saad Azhari, the chairman of BLOM Bank, told The Daily Star.He added that the renewal of Salameh's term brings confidence both in Lebanon and abroad.Joe Sarrouh, a banking and financial expert, praised the renewal of the governor's term but noted Salameh has a number of challenges that he needs to address soon.Not all experts and economists were receptive to the renewal of Salameh's term for another six years.Wazni emphasized that Salameh cannot solve all of Lebanon's problems alone.
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