Middle East Economic Survey


No 32



CBL Governor Says Foreign Exchange Reserves Are Being Replenished

Central Bank of Lebanon (CBL) Governor Riad Salamah says the rate of dollarization of deposits in the banking system has risen to 80% from 70% in a short span of time, following the assassination of former Prime Minister Rafiq al-Hariri in February. In an interview with the Beirut daily al-Nahar of 30 July Mr Salamah said confidence in Lebanon at the time fell to a...