Lebanese central bank mulling more cash to stimulate economy

June 21, 2014 1:40 pm

Riad Salameh, governor of Lebanon’s central bank has said the bank is considering pumping more money into the economy after commercial banks used up most of the $800m provided in credit facilities in 2014, The Daily Star has reported. The bank’s $1.46bn stimulus package, announced in 2013, mainly targeted the real estate sector with more than 50% of funds reserved for housing loans. “The funds have been almost used completely and we are looking at increasing that package,” Salameh said. “We did the same for 2014 and we are pleased to see that the credit enhancement we did was successful this year.”