Lebanon’s central bank, seeking to shore up battered confidence in the financial system amid the worst economic crisis in decades, said on Monday bank deposits are secure and it had the ability to preserve the stability of the pegged Lebanese pound.
In Beirut, I Can No Longer Get American Dollars Out of the ATM. This Is What It Tells Me about Lebanon’s Economy
I sniffed something was wrong in Lebanon when the central bank governor Riad Salame announced to us all that there were plenty of dollars in the system. No shortages. No tightening of the purse strings. I still have the papers with his announcement on page one.