No 16



Lebanon Moves To Reduce Interest Rates Again

The Association of Banks inLebanon has decided to lower interest rates on loans in US dollars and Lebanese pounds in order to help stimulate the economy. The associations chairman, Joseph Torbey, has notified the Governor of the Central Bank of Lebanon (CBL), Riad Salamah, that effective from 11 April commercial banks would cut prime rates on dollar loans from 8.30% to 7.75% and on pound loans from 13% to 11%. Mr...