Report: Central Bank Measures Could ‘Ease’ Concerns

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Central bank governor Riad Salameh intends to take some “important” measures in agreement with local banks, and under a political cover, within the exceptional powers granted to him by the Monetary and Credit Law / Article 174, al-Liwaa daily reported on Saturday.

According to the daily, the measures entail:

-Setting a withdrawal limit on dollars of up to $1000 per week instead of 200 or 300 provided that the total withdrawal amount does not exceed $6000 per month.

– Setting the price of one dollar in banks at 2,000 Lebanese pounds in order to keep dollars in banks and prevent dollar run to the black market.

-Providing the necessary credit facilities for the purchase and import of food commodities such as sugar, rice, medical equipment, medicines, tools and supplies for industry in order to motivate the economy and production cycle, reduce unemployment, provide job opportunities for Lebanese youth, and reduce immigration.

– Dismiss completely the idea of haircut or deduction from the deposits of citizens, regardless of their size or quantity.

Source Naharnet

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