VOL. XLI

No. 09

2-March-1998

LEBANON

Salamah Says Lebanon Committed To Stable Exchange Rate Policy

The Central Bank of Lebanon has succeeded in stabilizing the value of the LebanesePound at around $1=LL1,500 according to the bank's Governor, Mr. Riad Salamah. In aninterview with the London Arabic language daily, Asharq al-Awsat of 20 February,Mr. Salamah said that by pursuing a policy of direct intervention in the foreign exchangemarket within a narrow band of LL10 between the buying and...