(MENAFN) Lebanese Finance Minister Ali Hassan Khalil warned that economic growth in the country is causing tensions on foreign currency reserves of the central bank since it is zero or negative.
"Very soon", the finance minister pledge, Lebanon will launch steps aimed at issuing foreign currency bonds of around USD2 billion.
"There was not much liquidity in people's hands" but that this had "no impact", with banks preserving the pegged exchange rate, the minister noted in reference to obstacles around the dollar.
Khalil added "the level of growth went back to zero, if not negative, and therefore this matter led to an increase in the pressure on (the central bank) reserve in foreign currencies, (and) the accumulation of the deficit in the treasury."
MENAFN1909201900450000ID1099024345
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.