Middle East Economic Survey

VOL. XLVIII

No 23

6-June-2005

Lebanon

CBLs Governor To Serve Third Term

The Lebanese government on 26 May reappointed the Governor of the Central Bank of Lebanon (CBL) Riad Salamah for a third six-year term starting in July. During his 12 years in office, Mr Salamah has introduced banking reforms, including bank mergers, and pursued a monetary policy which succeeded in keeping a stable currency, despite the countrys large public debt, currently put at some $34bn. Mr...