Salameh praises wisdom of banks

“Credibility of financial sector saved our economy”

The Lebanese economy was able to withstand global and regional adversities due to the reliability and wisdom of its financial sector, Central Bank Governor Riad Salameh said on Friday. “Lebanon has proven outstanding resilience against the different hardships due to the credibility by which monetary policies are being managed, as well as the wisdom by which banking operations are being performed,” he told the semiannual meetings of the International Monetary Fund (IMF) and World Bank.

The meetings of the IMF and the World Bank bring together central bankers, ministers of finance, private sector executives, and academics from around the world to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness.