Lebanon central bank can keep subsidies only for two more months -governor

Reuters | Beirut | Updated: 02-12-2020 01:48 IST | Created: 02-12-2020 01:48 IST
Lebanon central bank can keep subsidies only for two more months -governor

Lebanon's central bank can only keep subsidising basic goods for two more months, Governor Riad Salameh said on Tuesday, adding that it was up to the state to come up with a plan.

In an interview with Saudi's al-Hadath TV, Salameh said the bank would commit to handing over Lebanese government accounts as part of a forensic audit, but that handing over accounts of domestic banks would require a change in legislation. He said the central bank would seek to reorganize and sell Lebanese banks that fail to increase their capital by a February deadline.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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