The Lebanese Minister of Treasury, Foaud Saniora, strongly rejected a possible devaluation of the local currency, reported Al-Hayat . Saniora asserted his refusal of any lira devaluation in the future, since such a step not only weakens confidence in the Lebanese economy, but will also have negative effects on limited income families. Saniora stated that Lebanon will not follow the IMF’s instructions in this regard. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
