Hariri’s government obtains vote of confidence

Published November 13th, 2000 - 02:00 GMT

Hariri’s government obtained the vote of confidence from the parliament by 95 votes against 6 and 17 abstentions. 


A law against money laundering is being prepared by Banque du Liban, the Ministry of Finance and the Association of Banks to incriminate this illegal operation in Lebanon in order to conform to the provisions of FATF (financial Action Task Force), an international committee of surveillance created by G7. Its next meeting will take place in February. 


Mr. Riad Salameh, governor of BDL said that the pressures on the Lebanese pound have decreased a great deal after the formation of the new Hariri’s Cabinet. However he doesn’t foresee any cut in interest rates in the near future. 

The gross reserves of foreign currencies of Banque Du Liban have amounted to $6,032 million, noting a decrease of $253 million over the 2nd half of October. 


Compensation: 7.2 million of compensated checks over the first eight months (-0.7 percent compared to the same period in 1999, totaling a value of LBP 26,728 billion (+1.3 percent). 


Construction sector in decline: (accumulated on nine months of 2000 compared to 1999: Cement deliveries, 1.95 million tons (-12.4 percent). Construction permits, 5,043,220 m² (-19.5 percent). 

The South highway connecting Beirut to Saida is completed. The construction work carrying out to Tire is still in progress. — ( Banque Libano-Française Sal )  



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