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Main » 2011 » February » 4 » Analysts: Lebanon economy to survive political crisis
Analysts: Lebanon economy to survive political crisis
8:44 AM
According to analysts, Lebanon's economy should be able to survive the political storm that has seen the appointment of a Hezbollah-backed prime minister due to the strength of the country's banking system and replete foreign currency reserves. "The financial defence lines are currently the strongest in Lebanon's history," middle-east-online.com quotes Marwan Barakat, chief economist at Bank Audi as saying. The Central Bank has $30 billion (22.5 billion euros) in foreign currency reserves which cover 78 percent of depositors in Lebanese pounds," he added.
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