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ViewpointAugust 27 2012

Moving Lebanon from stability to growth

Having protected the country's economic stability throughout a period of intense economic and political turmoil, the Lebanese central bank is now tasked with boosting job creation and lowering the country's growing budget deficit.
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Moving Lebanon from stability to growth

The Lebanese financial model has managed to maintain a remarkable resilience, defying all odds against severe internal and external shocks, whether political, financial or security-based. This marked resilience, which has won the appreciation and confidence of the international markets, is based on sound and stable monetary and financial policies.

At the monetary policy level, Banque du Liban's (BDL) continuous commitment to exchange rate stability has been the cornerstone of our financial stability. We were able to ensure price stability, target low inflation, wipe out the risk of speculation and consequently boost confidence in the national currency, as evidenced by persistent conversions from the US dollar into the Lebanese pound.

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