Salameh: Dollar Available in Market, Monetary Situation Stable
In a move aimed at easing concerns over the demand for dollars amid a worsening economic crisis, Central Bank governor Riad Salmeh on Friday affirmed the "stability" of Lebanon’s monetary sector and the "availability" of dollars in the market.
Salameh said in remarks he made to LBCI TV station that he “explained the mechanism of the new circular to all parties and met with the concerned ones,” stressing “there will be no change to the circular.”
Last week, Banque Du Liban (BDL) issued guarantees to secure U.S. dollars for local banks at the fixed official rate that would cover imports of fuel, wheat and medicine, a move aimed at easing the demand for dollars.
BDL said the imports of gasoline, wheat and medicine it would secure hard currency for are "only for local consumption.”
Salemeh told LBCI his aim is to “facilitate the import of key merchandise like medicine, flour and fuel,” ensuring that dollars are available in the Lebanese markets.
Source: Naharnet
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