Lebanon FX reserves down US$2.2b in 2022, US$11b left, says central bank governor

22/6/2022 9:21:00 AM

Lebanon FX reserves down US$2.2b in 2022, US$11b left, says central bank governor

Lebanon Central Bank, Lebanon Economy

Lebanon FX reserves down US$2.2b in 2022, US$11b left, says central bank governor

BEIRUT, June 22 — Lebanese central bank governor Riad Salameh said yesterday the bank’s foreign currency reserves had dropped by US$2.2 billion (RM9.67 billion) so far in 2022...

Wednesday, 22 Jun 2022 7:56 AM MYTBEIRUT, June 22 — Lebanese central bank governor Riad Salameh said yesterday the bank’s foreign currency reserves had dropped by US$2.2 billion (RM9.67 billion) so far in 2022 to about US$11 billion, about a third of the level three years ago.

Salameh made the comments during a recorded interview with Lebanon’s LBCI TV. As the interview aired, state security forces were raiding a home he owns northeast of Beirut as part of a judge’s probe into alleged misconduct and corruption.Once celebrated as a financial wizard, Salameh has been on the defensive since 2019, when Lebanon slipped into an economic meltdown that has seen the currency lose more than 90 per cent of its value.

Read more:
Malay Mail »

Cops nab four in Penang for smuggling RM764,000 worth of cigarettes

GEORGE TOWN: Four men were arrested by police for being involved in smuggling cigarettes worth RM764,000 in Bukit Mertajam on Monday (Sept 26). Read more >>

Boling padang azam lakar kejutan di Sukan Komanwel 2022'Kami ada sasaran yang lebih daripada Majlis Olimpik Malaysia (MOM) dan Persekutuan Lawn Bowls Malaysia (PLBM). (Sasaran ini) hanya sesama kami tahu.'

RWMF 2022 ends on high noteKUCHING, June 21 — The Rainforest World Music Festival (RWMF) ended its 25th edition on Sunday night — not quietly, but with a bang. At around 11pm, the finale began with...

Johor's unemployment rate drops 0.7% in Q1 2022ISKANDAR PUTERI: The unemployment rate in Johor has dropped 0.7% to 3.2% for the first quarter of this year compared to the same period last year (2021).

Invest Selangor eyes 30 static display aircraft for Selangor Aviation Show 2022KUALA LUMPUR (June 20): Invest Selangor Bhd is targeting to showcase 30 static display aircraft comprising business private jets, helicopters, light aircraft and drones for its upcoming Selangor Aviation Show (SAS) 2022 in September.Chief executive officer Datuk Hasan Azhari Idris said the second installation of the one and only business aviation show in the Asian region would be hosted on a bigger scale than that of last year, housing more than 70 booths with over 38,000 square metres of exhibition area spanning two hangers

Semicon Southeast Asia 2022 underscores significance of E&E industry in the regionGEORGE TOWN (June 21): The region’s premier gathering of the semiconductor and microelectronics industry, SEMICON Southeast Asia 2022, underscores the significance of the Electrical and Electronics (E&E) industry both in Malaysia and the broader Southeast Asia region. The conference’s main organiser Semiconductor Equipment & Materials International (SEMI) president and chief executive officer (CEO) Ajit Manocha said the semiconductor industry has coped well and shown strong growth despite unprecedented challenges due to the Covid-19 pandemic.“The most important lesson from the pandemic has

Pengerang Energy Complex to receive US$2.4b funding by year end, says ChemOneKUALA LUMPUR (June 20): ChemOne Group has announced that the Pengerang Energy Complex (PEC) project is on track to receive export guarantee facilities of around US$2.4 billion (about RM10.56 billion) by the end of the year. In a statement on Monday (June 20), ChemOne, which is the master developer of the project, said the PEC will complete its financial closing in late 2022 as per financing terms and the schedule agreed with leading global export credit agencies.“Slated to start construction in the fourth

for the latest news you need to know.PORT DICKSON: Pasukan boling padang kebangsaan ke Sukan Komanwel 2022 berazam melakukan kejutan dengan meraih lebih daripada dua pingat berbanding sasaran yang ditetapkan.for the latest news you need to know.State Youth, Sports, Entrepreneur Development, Cooperatives and Human Resource Committee chairman Mohd Hairi Mad Shah (pic) said the number of unemployed in the state also recorded a decrease to 58,600 individuals in the first quarter of this year compared to 70,800 during the same period last year.

Wednesday, 22 Jun 2022 7:56 AM MYT BEIRUT, June 22 — Lebanese central bank governor Riad Salameh said yesterday the bank’s foreign currency reserves had dropped by US$2.2 billion (RM9. Bagaimanapun, beliau enggan mendedahkan acara yang dijangka meraih pingat tetapi tiada tersenarai dalam sasaran yang ditetapkan oleh pihak berkuasa sukan negara.67 billion) so far in 2022 to about US$11 billion, about a third of the level three years ago. This was followed by a spectacle of awesome stage sparks which brightened up the stage. Salameh made the comments during a recorded interview with Lebanon’s LBCI TV. (Sasaran ini) hanya sesama kami tahu. As the interview aired, state security forces were raiding a home he owns northeast of Beirut as part of a judge’s probe into alleged misconduct and corruption. In addition, he said through the Johor Career Programme held last month, SMI Johor had organised open interviews by offering 883 vacancies involving the participation of eight firms.

Once celebrated as a financial wizard, Salameh has been on the defensive since 2019, when Lebanon slipped into an economic meltdown that has seen the currency lose more than 90 per cent of its value. Beliau berkata kepada pemberita selepas menerima lawatan Timbalan Chef de Mission (CDM) ke Sukan Komanwel Birmingham 2022, Gerrard Clair Monteiro di kem motivasi pasukan itu di sini hari ini. According to Minister of Tourism, Creative Industry and Performing Arts Dato Sri Abdul Karim Rahman Hamzah at a press conference last night, the next edition of RWMF will be held in June next year. Lebanon had more than US$30 billion in foreign currency reserves when that crisis began, but Salameh said the amount was now a third of that. “The Central Bank (reserves) have shrunk by a net of 2. Sebelum ini, MOM dan PLBM menetapkan sasaran dua pingat untuk pasukan boling padang negara dalam kejohanan berkenaan dengan salah satunya ialah pingat emas.2 billion dollars since the end of the year,” he said yesterday. — Borneo Post Online pic The concert on the closing night of the festival featured a myriad of performers from around the world, including Timo Vaananen from Finland, Warsaw Village Band from Poland, Stephen Seifert from USA and Flame of the Forest from Singapore. “We will have more than 11 billion that we can use. Katanya, seramai lima pemain lelaki dan lima pemain wanita akan berlepas ke United Kingdom pada 4 Julai ini untuk menyertai latihan dan beberapa siri perlawanan persahabatan di sana sebelum kejohanan itu berlangsung.

” He said that the central bank would propose to a newly-formed cabinet a law to issue bills in larger denominations to make the pound easier to use given the devaluation. Lebanon is set to name a new prime minister tomorrow, who would then be tasked with forming a new government. Dalam pada itu, jaguh boling padang negara, Siti Zalina Ahmad dan Emma Firyana Saroji yang membawa pulang satu pingat emas dalam Sukan Komanwel Gold Coast pada 2018 yakin peluang pasukan itu lebih baik dalam temasya kali ini. — Borneo Post Online pic The three-day concert also featured notable performers such as Mathew Ngau Jau, At Adau and Pinanak Sentah. The process is often drawn out and can take months of horse-trading before a consensus is reached. Salameh also said in the interview he was in favour of maintaining banking secrecy in Lebanon, where banks have severely restricted access to hard currency for most depositors. “Kami mengharapkan sokongan dan doa daripada seluruh rakyat Malaysia supaya dapat mencapai kejayaan lebih baik kali ini,” katanya. The statement contradicts the position of Lebanon’s deputy prime minister Saade Chami, who told Reuters he was “not seeing any benefits to keeping” banking secrecy in the country. The sape class held by Persatuan Anak Seni Sape Kuching (Pusak), in particular, gained traction from enthusiasts as they learned how to play the traditional lute.

The International Monetary Fund had also set a “reformed banking secrecy law to bring it in line with international standards” as a precondition for access to relief funds for Lebanon. — Reuters Advertisement .