Improved political environment lends support to Lebanese pound
As new government is formed, investors become more willing to sell dollars and buy pound
The formation of a government of national unity in Lebanon on February 1 after months of negotiations is already supporting the pound, central bank governor Riad Salamé said today (February 5).
The country held general elections in May 2018, the first since 2009. The civil war in neighbouring Syria, and internal disagreements between the Sunni, Shia and Christian communities led to the elections, originally scheduled for 2013, being postponed repeatedly. The same long-term disagreements have
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