Oman $50 million boost for Lebanese cbank reserves

LEBANON - Oman deposited $50 million with Lebanon's central bank on Apr 6 to boost foreign currency reserves and to express its support for the government's economic measures, reported the Daily Star newspaper on Apr 10, 2001.

The five-year deposit carries an interest rate of 4 percent. Qatar promised Premier Rafik Hariri that it will deposit $100 million soon. Saudi Arabia, Kuwait and the United Arab Emirates have collectively deposited about $1 billion with Lebanese central bank since 1998.