Riad Salame, the Governor of the Banque du Liban (BDL), said that he is very satisfied with the safety of the financial situation and the Lebanese pound immunity, and he is confident in the ability to deal with the difficult challenges imposed by this stage. He stressed that "the monetary reality is controlled and there is no fear of any financial collapse," adding that “there are unjustified intimidation of people," pointing out that "Lebanon is not threatened by sinking to the extent promoted by some," confirming that "nothing can affect the stability of the pound, based on the financial realities."
Salame said that he is "confident of the ability to secure the financial stability for a year, two years and even more, and continue to fund what should be financed from the basic expenses of the state, but in return the state is required to develop solutions and policies that allow economic growth," adding that "the main problem is the lack of a comprehensive and integrated economic vision, which increases the burden on the central bank."
BDL Governor pointed out that "the radical treatment of the economic crisis should be based on two things: increase the economic growth and adopt a serious plan to contain the public debt," stressing that "the continuation of the debt does not generate growth, therefore, an encouraging environment should be found to attract investments because only the investment can reduce the unemployment and make the economy more dynamic."
Source (Economic Bulletin website, Edited)
