Complex Made Simple

Lebanese central bank to pay all outstanding debts in 2014

Lebanon’s central bank governor, Riad Salameh has said the bank would settle all its outstanding dues this year, including its $800m debt that matures at the end of this month, The Daily Star has reported. “We have over $36bn in liquidity and we have beefed up our foreign currency reserves,” Salameh said. “Commercial banks have excess liquidity and customer deposits are growing by 5% to 6% compared to last year. All of the foreign currency-denominated bonds have been replaced before their maturing dates,” he said.