Lebanese c. bank warns against interest rates surge

May 22, 2014 1:33 am

Lebanon’s central bank has warned of grave economic and social consequences if interest rates surged, The Daily Star has reported. “It is important that the needs, which will be financed from the public debt, do not add pressure on lending capabilities of the private sector and do not create additional pressure on the borrowing interest rates,” said the bank’s governor, Riad Salameh. “A rise in interest rates will have negative economic and social consequences,” Salameh told reporters after meeting finance minister, Ali Hassan Khalil.