NO. 22


Financial and Banking News

Budgets & Revenues

Lebanon Reduces Prime Rate To 22% As Economic Outlook Improves

The Lebanese Banks Association on 17 February announced a cut in the primelending rate from 26% to 22%, reflecting a higher degree of confidence in theeconomic recovery of Lebanon. The rate was slashed from 60% to 27% in October1992, shortly after the appointment of Mr. Rafiq al-Hariri as Lebanon's primeminister. Subsequently the rate was cut...