Kuwait helps defend Lebanese pound with $100m

Kuwait has decided to deposit $100 million with Lebanon's central bank to help defend the Lebanese pound and raise depleted foreign reserves, the office of Prime Minister Rafik al-Hariri said on Jan. 25.Hariri's office said that the Kuwaiti Fund for Arab and Economic Development also pledged $300 million for development projects. It did not give any details.

Lebanon has received more than $1 billion in grants and soft loans that the government has not used because it did not comply with its re