Financial and Banking News

REGIONAL BANKING

Lebanese Reserves Virtually Exhausted 

The foreign currency reserves of the Banque du Liban, which in the current circumstances are virtually the only source of funds for the Beirut government, are reported to have dwindled to a mere $260mn, according to press reports last week. The Financial Times quoted western diplomatic sources for this figure, and suggested that Saudi aid to the Lebanese regime is being made conditional upon the repeal...