The International Monetary Fund is satisfied with Lebanon’s economic policies, Central Bank Governor Riad Salameh said Monday during a visit to Washington.
“The IMF does not have any reservations about the performance of Lebanon, and it understands what the region is going through and its impact on us,” Salameh told an Arab economic news outlet, according to a transcript carried by the National News Agency.
He said he “assured” IMF officials that Lebanon will continue to maintain the current exchange rate.
“[This] has been welcomed and supported by the competent authorities in the IMF, because those policies are the means to maintain confidence and economic stability.”
Salameh said he stressed on "the continuation of intervention in the markets in order to maintain the stability of interest, especially amid rumors that Washington will raise interest rates by mid-year, but not to a great extent."
The Central Bank chief also explained that he requested the IMF send a delegation to Lebanon "to evaluate the cost borne by the country as a result of receiving displaced Syrians."
As he explained, Salameh’s meetings with the World Bank officials also tackled the Syrian refugee crisis. “I asked them to make efforts to collect aid within a trust fund established in agreement with the government to support Lebanon and the Lebanese who bear the cost of refugees.”
He said he also met representatives of international banking institutions who confirmed they would continue to work in Lebanon.
“This coincided with the with Standard & Poor’s release of the ratings, in which Lebanon kept the B classification, with a 'stable' future vision,” he explained. “This was a source of comfort to us.”
And on Lebanon's ability to pay financial entitlements, Salameh said "the international community awaits the Parliament’s approval of “Eurobonds," explaining that banking institutions have shown real concern over this issue.
Calling the atmosphere of the talks in the U.S. capital “positive,” Salameh said the representatives of the banks, especially the American, European and Japanese ones expressed "satisfaction" with the measures taken in the last three years.
