Arab Today, arab today lebanese officials emphasise stability of the lira
Last Updated : GMT 10:17:35
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Sources deny reports of financial concerns

Lebanese officials emphasise stability of the lira

Arab Today, arab today

Arab Today, arab today Lebanese officials emphasise stability of the lira

Riyadh Salama, Comptroller of Lebanon's Central Bank
Beirut - Georges Chahine

Riyadh Salama, Comptroller of Lebanon\'s Central Bank Senior financial sources in Lebanon are confident about the country\'s economic situation and have denied reports of \"panic\" to buy the US dollar .
Traders and depositors in Lebanon have stuck with the lira, despite rocky times.
A financial source told Arab Today: \"Lebanon\'s Central Bank has successfully been able to differentiate between the national currency and the political situation.
\"Riyadh Salama, Comptroller of the Lebanese Central Bank has safeguarded the country\'s finances, from the claws of the worsening security situation and political instability.
\"Lebanon now has a foreign currency reserve worth 37 billion lira, which is at a historic high,\" the source explained.
Insiders also denied that people were pulling their money out of Lebanese banks, explaining that the flow of funds from abroad is still ongoing and has reached more than $7 billion this year.
Despite the security concerns, sources believe that the central bank has reaped the rewards of planning for political and security developments.

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