Lebanon needs stable currency - Bank governor

LEBANON - A stable currency is needed for successful privatisation of state-owned companies, Banque du Liban (Central Bank of Lebanon) Governor Riad Salameh said on 30 July.

"With a stable currency we can reduce interest rates and encourage investments", he added.

According to a report of the International Monetary Fund, the Lebanese economy will grow by 1.3 pct in 2001. The Lebanese government plans to privatise several companies, including the Electricite du Liban, the state-owned water compa