Lebanon's liquid assets in foreign currency are $8.6 billion

Lebanon’s liquid belongings in overseas forex are $8.6 billion

World By Aug 17, 2023 No Comments

The Central Financial institution of Lebanon stated at present, Thursday, that the nation’s liquid belongings in overseas forex amounted to eight.573 billion {dollars}, whereas exterior liabilities amounted to 1.27 billion {dollars}, which is the financial institution’s first disclosure of those figures.

In keeping with Reuters calculations based mostly on the financial institution’s figures, the nation’s internet overseas forex belongings amounted to $7.303 billion.

The Particular Investigation Fee for Combating Cash Laundering and Terrorist Financing on the Central Financial institution of Lebanon stated in an announcement at present, Monday, August 14, that it had determined to freeze the financial institution accounts of former financial institution governor Riad Salameh and 4 of his associates.

The assertion said that Lebanon additionally determined to raise banking secrecy from the accounts owned by the 5 people, who’re Salama, his brother Raja, his son Nada, his former assistant Marian Howayek, and Anna Kosakova, from whom Riad had a daughter.

Salameh held the place of Governor of the Banque du Liban from 1993 till July 31. Arrest warrants have been issued towards him in France and Germany, following investigations into whether or not he and his brother embezzled $330 million in public funds from the financial institution throughout his tenure.

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