No. 17



Lebanon Reduces Prime Rate On Lebanese Pound To 24%

The Lebanese Banks Association (LBA) decided on 10 January to cut the prime lending rate on the Lebanese pound from 30% to 24%. LBA's Secretary General, Mr. Makram Sadr, said that the prime rate cut was in line with the gradual fall in treasury bill yields from about 37% from one-year maturity in November to 18.26% in the 11 January issue. The LBA, which groups 79 of Beirut's 83 banks, raised...