Lebanon's ability to survive the crisis sparked last month by Prime Minister Saad al-Hariri's now rescinded resignation has increased confidence in its economy, the governor of the country's central bank said Friday (December 15th).
"The liquidity to fund the economy remained available because we maintained monetary stability during this crisis and even I think that after this crisis there will be more confidence," Riad Salameh told AFP.
"The cost for the country has been that the interest rates on the Lebanese pound have risen," he added.
The fact that Lebanon's economy, which some observers say is in a critical state, has weathered the storm has vindicated the central bank's policies and opened the door for investment, Salameh said.
"So the cost is the higher interest rates, but the reward is that the country has shown again a resilience and that our monetary policies are correct," he said.
