Middle East Economic Survey

VOL. XLVIII

No 21

23-May-2005

LEBANON

CBL Governor Calls For Reforms To Deal With Debt

Central Bank of Lebanon (CBL) governor Riad Salamah said last week that Lebanon must introduce financial reforms if it wants to reduce its interest rate structure and deal with its mounting debt problem. He pointed out that between 1993 and 2004 the cost of debt had fallen from 14% to 8%, but that interest rates increased in the aftermath of the assassination of former Prime Minister...