Salameh: Lira Stable, Talk of Bankruptcy Risk Unjustified
Central Bank Governor Riad Salameh on Saturday reassured that the status of the Lebanese lira is "stable."
"All talk that Lebanon is a country facing the risk of bankruptcy is unjustified scientifically and in the language of numbers," Salameh said during an economic conference in Bkirki.
"As usual, there are always negative rumors in the Lebanese markets, but even if rating agencies downrate Lebanon's ranking, this will not affect the banking sector, seeing as its impact would lower the solvency ratio from 16% to 12%, which would still be above the threshold required internationally," the governor added.
03 August 2019, 18:30
01
It is not stable. With the likes of Berri in power, we are on a collision course with financial catastrophe.
One thing can save us.
Finding oil and gas. Quickly. Selling it. And paying part of the debt.
Another thing can buy us time. Fed chairman lowering US interest rates. An accomodative policy in the US would lower our cost of debt. And give us some time. Otherwize, we wont last.
04 August 2019, 07:38
00
I have the utmost respect and deepest admiration for Mrs. Lebanon First for many reasons chief among them:
1) It knows Mr. Nizar Zakka personally and knows he is a CIA operative because it has dined and wined at Nizar’s lavish Washington D.C residence.
2) It knows interior minister Raya Hassan on a very ’personal’ level but too bad she is sectarian.
3) It knows Mr. Peter Germanos personally and knows he is an idealist intellectual and a model of what jurists should be.
4) It knows Joseph Beshara (the head of the Public Notaries Council of Lebanon) is a very good friend. Way to go my man!!
5) It is well off, has a lot of well off friends, is an investor but is running to the exits!
