Diab: BDL Stabilized Lira in the Past, Why Not Now?
Prime Minister Hassab Diab on Thursday voiced skepticism over Central Bank Governor Riad Salameh's latest remarks about the lira exchange rate.
“I will not comment on Central Bank Governor Riad Salameh's latest remarks and floating the exchange rate is not up to the government but rather up to Banque du Liban,” Diab said after a cabinet session in which a long-awaited financial and economic rescue plan was approved.
He, however, added: “If the lira had been stabilized by BDL in the past, how is it not involved now?”
Diab noted that the plan approved by the government does not need parliament's ratification but pointed out that it will be presented to the parliamentary committees and that the government will discuss it with many sides to guarantee its proper implementation.
Asked whether the International Monetary Fund will provide Lebanon with $15 billion, the premier said the amount is being negotiated.
"The rescue plan aims to launch negotiations with bond holders and this will take six to nine months," he added.
Diab is scheduled to disclose further details about the plan in a live speech at 5:30 pm.
Source: Naharnet
| Copyright © 2012 Naharnet.com. All Rights Reserved. | https://naharnet.com/stories/en/271464 |