BDL Governor Salameh: No need for deposits haircut

Breaking Headlines
29-04-2020 | 07:00
High views
Share
LBCI
Share
LBCI
Whatsapp
facebook
Twitter
Messenger
telegram
telegram
print
BDL Governor Salameh: No need for deposits haircut
Whatsapp
facebook
Twitter
Messenger
telegram
telegram
print
2min
BDL Governor Salameh: No need for deposits haircut
Lebanese central bank governor Riad Salameh defended his record on Wednesday, rejecting criticism from the prime minister that he was to blame for a financial crisis and assuring savers there was no need for a haircut on deposits.
Salameh said the central bank did not hide information and that policies of financial engineering have helped buy Lebanon time to enact reforms and finance critical imports.
"There is absolutely no need for a haircut and a haircut should not be adopted," Salameh said in a televised address.
He said that while the central bank had financed the government, it was the government that spent the funds.
As for the funds transferred abroad, Salameh said that 5.9 billion US dollars were transferred outside Lebanon, with 3.7 billion of them used to cover loans and 2.2 billion were withdrawn in cash from the accounts of clients in banks.
Salameh also tackled the exchange rate of the Lebanese pound at the money changers, saying that that rate is affected by the supply and demand.
“We tried as much as possible to control the movement of the US dollar price at money changers,” he added.
Salameh concluded by stressing that the Banque du Liban will remain “cooperative with the government and Prime Minister Hassan Diab,” adding that it will not be “a tool to incite instability, but it will act in accordance with the monetary and credit law and maintain the independence of its decision.”
 
 


LBCI/REUTERS
 
 
 
 

Breaking Headlines

BDL

Lebanon

Salameh

Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
LBCI
Lebanon News
2025-10-20

Israel strikes three areas across South Lebanon

LBCI
News Bulletin Reports
2025-10-18

Fadel Chaker’s case returns to Military Court as new trial phase begins — the details

LBCI
Lebanon Economy
2025-10-03

Lebanon's fuel prices see slight drop

LBCI
News Bulletin Reports
13:50

Deep divisions emerge ahead of Parliament session over electoral law debate

Videos
d-none hideMe
LBCI
Lebanon News
2025-10-04

Meet Miss Lebanon 2025 contestants: Video

LBCI
Lebanon News
2025-10-03

Series of Israeli airstrikes spark massive fire in southern Lebanon

LBCI
Lebanon News
2025-09-07

Lunar eclipse captivates Lebanon: watch the stunning video

Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
Download now the LBCI mobile app
We use
cookies
We use cookies to make
your experience on this
website better.
Accept
Learn More