Central Bank Governor Dispels Fears of Financial Crisis

  • Economics
Central Bank Governor Dispels Fears of Financial Crisis

Central Bank Governor Riad Salameh dismissed claims that the country’s monetary and financial situation was at stake, assuring that the Lebanese Lira is and will remain stable.

In an interview with Annahar newspaper, Salameh said that there are no economic or financial reasons behind the recent collpase of two major real estate developers, noting that the crisis has been depicted differently than the reality.

"There is no link between the crisis jolting the real estate sector and the suspension of the subsidized housing loans," Salameh pointed out. "The real estate sector has been in decline since 2011."

Source: Kataeb.org