Lebanon’s broadest monetary aggregate M3 increased by 1% m/m in March 2013 to LBP 159.56bn (USD 105.6bn) speeding up its growth from 0.5% m/m in February, the central bank said in a report. The growth was primarily driven by a 1.6% m/m increase in foreign currency deposits to LBP 93.2tn.
Lebanon’s economy remains heavily dollarized with foreign currency deposits accounting for over 58% of money supply. Local currency time deposits stayed virtually flat m/m at LBP 58.93bn, while demand deposits rose slightly by 2% m/m to LBP 3.96bn.
On an annual basis, M3 increased by 6.9% y/y in March 2013 supported by a 5.3% y/y jump in foreign currency deposits and a 8.4% y/y hike in local currency time deposits.
An image of a ‘Produced in Iran’ fruit juice brand aboard a Qatar Airways flight might not appear at all exciting but to Iranians discussing the trade opportunities generated for the Islamic ... more
Investment Corporation of Dubai (ICD), which acquired a controlling stake in Porto Montenegro last year, reportedly is interested in ... more
Lebanon has become the fifth member country from the Southern and Eastern Mediterranean (SEMED) region to join the European Bank for Reconstruction and Development (EBRD), becoming a shareholder with ... more