Jobs
Properties
Search
Categories
Companies
People
Sectors
Topics
Business
Events
Conferences
Local trade exhibitions
International trade exhibitions
Professional
Training
Executive training
Trade
Missions
Incoming
Outgoing
Weekly
Newsletter
View latest issue
Subscribe
Update my subscription
Unsubscribe
SUBMIT INFO
News
Conferences
Exhibitions
Tenders
Training
Missions
Search
Categories
Financial
Markets
Business
Events
Trade
Missions
Business
Research
Calculation
Tools
Weekly
Newsletter
SUBMIT INFO
CHAMPION OF THE DAY
LEADERS NEWS
Dollar peg to be kept
in the foreseeable future
Governor of the Central Bank
to keep his post
Share
The official exchange rate of the lira would be maintained for the foreseeable future, said Ghazi Wazni, the Minister of Finance.
“Currently, we will keep the currency peg in order not to cause a further increase in inflation. We will consider a flexible policy later on,” he said.
Wazni said that it is very difficult to determine the timeframe for when the peg would be lifted. “This depends on the ability to improve public finances, debt, the situation of the banking sector and the capital inflows that will come,” he said.
He said the government took a step last week in the direction of reforming the electricity sector, a major drain on State coffers, by approving the construction of facilities that will switch power generation to natural gas from more expensive fuel oil. The costs of servicing the debt in lira had also been reduced by 25 percent.
Wazni said Lebanon was in need of $25 to $30 billion of assistance over the next five years to get out of the crisis.
He said that the Governor of the Central Bank, Riad Salameh, would remain in his post. “He is staying,” Wazni said.
Your browser does not support iframes.
Date Posted:
Mar 13, 2020
Share
Your browser does not support inline frames
ABOUT
ADVERTISE
SUBMIT INFO
RSS
CONTACT US
©
2022 by InfoPro sal. All Rights Reserved