Lebanese central bank to pay all outstanding debts in 2014

: Thursday, June 12 - 2014 @ 01:34

Lebanon’s central bank governor, Riad Salameh has said the bank would settle all its outstanding dues this year, including its $800m debt that matures at the end of this month, The Daily Star has reported. “We [the Central Bank] have over $36bn in liquidity and we have beefed up our foreign currency reserves,” Salameh said. “Commercial banks have excess liquidity and customer deposits are growing by 5% to 6% compared to last year. All of the foreign currency-denominated bonds have been replaced before their maturing dates,” he said.

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Thursday, June 12- 2014 @ 1:34 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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