Lebanon scoops new deposits in $1.4 billion boost to reserves
02 September 2019 |
6:00 am
One week after Lebanon’s credit rating was cut deeper into junk territory by Fitch, the country’s central bank governor told Bloomberg they have secured new deposits from private investors overseas, boosting dollar reserves by up to $1.4 billion. Riad Salameh’s comments are likely to go some way toward reassuring investors increasingly worried that dwindling inflows of cash from abroad could undermine Lebanon’s ability to repay its debts and defend its currency. He spoke to Bloomberg’s Lin Noueihed in an exclusive interview in Beirut, Lebanon.
Related
8 Aug 2021
After their small daughter was killed in Beirut's devastating port explosion, one Lebanese couple are fighting for an explanation — and to get their country back.
8 Aug 2021
German Foreign Minister Heiko Maas said lawmakers could face EU sanctions unless they moved to form a government and enact key economic reforms. Lebanon is currently gripped by its worst economic crisis in decades.
21 Aug 2021
Lebanese march towards Beirut port to mark a year since a cataclysmic explosion ravaged the city, protesting impunity over the country's worst peacetime disaster at a time when its economy was already in tatters.
13 Aug 2021
The Lebanese currency has lost up to 90% of its value, and prices are soaring. Most Lebanese are fighting a daily battle for survival and only a few profit from the skyrocketing exchange rates for the US dollar.
24 Aug 2021
The move has heaped more misery on consumers, amid a deep economic crisis that has seen the Lebanese pound lose 90% of its value.
25 Sep 2021
In the first edition of our new fact-checking show Truth or Fake, we focus on Afghanistan. A photo purportedly showing the new Afghan central bank chief has gone viral on social media; we show you how our Observers team debunked the image. Meanwhile, we demonstrate how widely shared images of alleged recent violence in Afghanistan's Panjshir Valley, attributed to the Taliban, actually come from a 2018 film.
22 Sep 2021
China's announcement that it will stop funding coal projects overseas is important says Li Shuo, a climate policy adviser with Greenpeace China, because Beijing is saying "as one of the biggest overseas public financier, we are not going to put more money into coal."
23 Sep 2021
A new Syrian-Jordanian deal on energy for Lebanon is being seen by some as another step towards the international rehabilitation of the brutal Assad regime.
1 Oct 2021
People in Beijing share their views after a decision announced by the International Olympic Committee that next year's Winter Olympics in the city will be held without fans from overseas. "I think this measure is for the safety concerns and is acceptable," says a pedestrian at Beijing Olympic Park.
16 Oct 2021
Most of Lebanon is set to lose access to state-generated electricity, forcing residents to buy electricity from private providers or be plunged in darkness.
12 Oct 2021
Power supplies in Lebanon have been restored after a blackout on Saturday caused by a fuel shortage. The army agreed to contribute fuel as an interim measure.
Latest
10 mins ago
This summer, an unprecedented marine heatwave hit the Mediterranean Sea, causing mass die-offs of marine life. Will ecosystems ever recover? The Down to Earth team takes a closer look.
1 hour ago
A Swiss company has built what is being called a giant water battery deep under the Alps that provides energy storage capacity equivalent to 400,000 electric car batteries. It could be a game-changer.
1 hour ago
NATO countries are set to hold talks with Moldova, Georgia, and Bosnia-Herzegovina as they allegedly face pressure from Russia. Germany has pledged to give Ukraine hundreds of generators. Follow DW for more.
1 hour ago
Stephanie Frappart, Neuza Back and Karen Diaz will become the first all-female refereeing team for a men's World Cup match as they have been named to take charge of the Costa Rica-Germany Group E match on Thursday, FIFA announced on Tuesday.
2 hours ago
Kenya could be on course to unveil its prototype of a military robotic dog. That is if they can adopt and advance the idea of a 19-year-old student who has finalized building one using local materials.
