Salameh: We will not sell our gold

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15-09-2011 | 05:09
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Salameh: We will not sell our gold
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Salameh: We will not sell our gold
Central Bank governor Riad Salameh said that the Bank will not lower its gold reserve, expecting a slower economic growth in the second quarter of this financial year due to the lack of stability on the political scene.

Salameh told Reuters that bank deposits in Lebanon increased by $4.5 billion in the last few months pointing that deposit’s growth might reach 7 percent at the end of this year.

“The unrest in Syria has affected tourism and trade between the two countries and this will leave serious drawbacks on the Lebanese economy in the long run”, Salameh said. “The total revenues of tourism rose compared to last year, thanks to Lebanese immigrants visiting the country”.

Salameh stressed that the Central Bank is committed to preserve the stability of the Lebanese pound.  
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