Riad Salameh

Finance

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Impact 75.9 · Confirmed · Confidence 75

• Clarifies and dates Salameh's IMF role in October 2012, changing prior wording about 'annual meetings'.
• Adds multiple 2020 central bank emergency measures (named circulars, dates, transfer limits and a law) that were not previously documented.

Replace “International Monetary Fund IMF and at the Arab Monetary Fund AMF In 2012 he chaired the annual meetings of the International Monetary Fund IMF.” with “International Monetary Fund IMF and at the Arab Monetary Fund AMF In October 2012 he chaired the Boards of Governors of the IMF and the.”. Add: preferred to keep using foreign reserves to pay interest to international creditors Among the exceptional measures adopted during the crisis the central bank issued Circular 152 on 6 August 2020 two days after the 2020 Beirut explosion instructing banks to grant exceptional interest free dollar loans refinanced by the central bank to individuals and businesses for the repair of damaged homes and premises Circular 153 of 19 August 2020 allowed transfers of up to US 10 000 at the official exchange rate for Lebanese students enrolled abroad before 2020 criticised for excluding more recent students it was followed by Law 193 of October 2020 the student dollar law which the central bank implemented through Circular 155 of 9 December 2020 Banks compliance was slow and partial prompting protests

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