Salameh: Lira Stable, Talk of Bankruptcy Risk Unjustified

Published August 4th, 2019 - 10:00 GMT
There are always negative rumors in the Lebanese markets
There are always negative rumors in the Lebanese markets. (Shutterstock)
Highlights
All talk that Lebanon is a country facing the risk of bankruptcy is unjustified scientifically and in the language of numbers

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.


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