A
- Advertising Agencies
- Architects


B
- Banks


C
- Car Dealers
- Car Rental
- Casinos
- Commerce
- Consulting
- Cosmetology
- Craft


D
- Data Processing &
Computer Systems
- Decoration &
Furnishing


E
- Editing
- Elementary Schools
- Engineering &
Contracting
- Environment / Waste
Management Services
- Express Delivery


F
- Fashion
- Financial Services
- Food & Beverage
- Furnished Apartments


H
- Health / Beauty
- Higher & Vocational
Training
- Home Appliances
- Hotels 3
- Hotels 4(A)
- Hotels 4(B)
- Hotels 5
- Hotel & Restaurant
Amenities


I
- Industry
- Insurance
- Interior Design /
Decoration
- Internet


J
- Jewelleries


L
- Lighting
- Luxury


M
- Media
- Music


O
- Office Equipment /
Electronics
- Oriental Carpets
- Outside Decoration


P
- Printing
- Promotional Materials


R
- Real Estate
- Recruitment
- Restaurants


S
- Sanitary Wares
- Security
- Services
- Sweets


T
- Taxi
- Telecommunication &
Mobile Phones
- Transport
- Travel Agencies
- Technical Studies


W
- Watches
- Water Treatment










 


 

Back to archives Back to news
French Version


Lebanon determined to implement monetary reforms (Daily Star)

Finance minister says change already under way

Finance Minister Elias Saba said Lebanon is determined to implement the financial reforms required by foreign creditors, specifically those at the 2002 "Paris II" donors' conference.

Saba, who spoke to reporters after being visited by Central Bank governor Riad Salameh, said that Lebanon was not inconvenienced by the reforms.

The previous government, headed by former Premier Rafik Hariri, was unable to successfully implement reforms demanded by donors and the International Monetary Fund.

"Even before the reforms were required ... this country had already adopted them," Saba said, adding that they were "nothing out of the ordinary" and that he was ready to "fully cooperate" with Salameh.

For his part, Salameh dismissed any fears that the Lebanese pound has been under pressure in recent weeks.

"The Central Bank is in full control of the currency exchange in this country," he said, adding that, although the bank has not disclosed the scale of its intervention in the exchange market, the market's difficulties are not solely affected by the bank's intervention, but also by the volume of foreign currency reserves.

Salameh said other factors include the size of foreign currency payments to the Central Bank by private banks or by some government departments.

"Therefore, it is only normal for the Central Bank's balance to change depending on this volume of foreign currency deposits," he said.

The Central Bank's large reserves of gold and foreign currency are enough to handle any pressure facing the pound, he continued.

"Therefore," he said, "there is no fear for the stability of the Lebanese pound."

Answering a reporter's question about a swap operation due next week in which the government will swap mature T-bills for others due at a later date Salameh said the bank would go ahead with the move.

Regarding the new Cabinet of Premier Omar Karami, Salameh said he had no objection to any new members.

"They are all my friends," he said.

Saba also said the government is determined to "safeguard the country's financial, monetary and economic stability."

Asked whether the draft 2005 national budget, put forward by the previous government, would be adhered to by the new one, Saba said that he had not yet made up his mind, and that the issue would be addressed once the government receives a vote of confidence and has studied the draft.

"I shall ... answer this question at the right time," he said.

Beirut 08-11-2004
Elie Hourany
The Daily Star



BUSINESS
INFORMATION
Business News
Business Forum
Business Opportunities
Fairs & Exhibitions
Useful Addresses
Currency Exchange Rates
Context
GENERAL
INFORMATION
Geography
Some Marks
To see in Lebanon
FIRST LEBANON
INFORMATION
Media of 1stlebanon
Impact of 1stlebanon
Add your company
Press Book
WEBSITE SELECTION
Flowers delivery Lebanon
Flowers delivery Dubai
Oriental food specialty
Lebanese wine
Real estate agency Beirut
Hotel Hamra-Beirut
Car rental
Beirut-Lebanon
Rent a car lebanon
Reservation for your travel in Lebanon
Association des français de l'étranger
-section Liban
Diamond jewelry Lebanon
Jewelry manufacturer Lebanon
Jewelry watches-Swiss made watches
Diamond Swiss watches
Modern and comtemporary jewelry
Byzantine & Phoenician jewelry
Jewelry creation
Oriental, classical and traditional decoration
Hand made furniture
Construction management Lebanon
Projects development
Shoes manufacturer and distributor Lebanon
Sole agent of Philips & Whirlpool in Lebanon
Web development
Web marketing
Printing press services
Paper products
Insurance company Lebanon
Insurance Lebanon
Rent villas France
Hotels all over Syria
Hotel management company
University Lebanon
Arab Media News