Lebanon's Central Bank Governor Riad Salameh speaks during an interview with Reuters at his office in Central Bank in Beirut, Lebanon October 24, 2017. REUTERS/Jamal Saidi/File Photo
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Central Bank Governor Riad Salameh Monday reiterated that the monetary situation in Lebanon is still under control despite the resignation of Prime Minister Saad Hariri more than a week ago. Speaking to Bloomberg TV during a visit to London, Salameh stressed that the crisis in Lebanon is political and not monetary.He assured that Lebanon and Banque du Liban in particular have taken proactive measures to weather crises as liquidity in lira and foreign currencies is high in the banking sector and Central Bank.The Institute of International Finance also warned Hariri's resignation may plunge Lebanon into another protracted political stalemate that could weigh on the economy.Echoing the assurances of Salameh, IIF said that there is no concern that Lebanon's national currency will be affected by the political vacuum in the country.
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