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TOP STORIESBahrain, Qatar, UAE urge citizens to stay away from LebanonBahrain, Qatar and the United Arab Emirates urged their citizens to stay away from Lebanon, citing security concerns in a country where fighting prompted by sectarian tensions in neighboring Syria has unsettled areas near a northern port.The three Gulf states' Foreign Ministries urged all those already in Lebanon - a favorite destination for wealthy Gulf tourists - to leave because of the "security situation" in the country, the official news agencies BNA, QNA and WAM reported. read more>>
IMF judges 90 pct of Lebanese banks fully Basle 3 compliant, says banks report capital above the regulatory minimum, high liquidity buffers, low levels of nonperforming loans and stable profits The banking sector has accumulated buffers but is facing an increasingly challenging environment. Thanks to prudent management and conservative regulation, banks report capital above the regulatory minimum, high liquidity buffers, low levels of nonperforming loans and stable profits, an IMF press release issued following conclusion of Lebanon Article 4 consultation concluded. However, the recent expansion abroad exposes banks to heightened risks from the regional turmoil, the IMF press release said. Highlighting the main ratios of the sector the IMF said that deposit inflows resumed in March following outflows and currency conversions after the fall of the government in January 2011, and are growing at an annualized rate of 9 percent. With pound deposits picking up recently, deposit dollarization is on a downward trend though still above its end-2010 level. Sovereign and Credit Default Swaps (CDS) spreads have risen broadly in line with emerging market averages. READ MORE Related downloadable documents
Country Report No. 12/39: Lebanon: 2011 Article
IV Consultation - Staff Report; Public
Information Notice on the Executive Board
Discussion; and Statement by the Executive
Director for Lebanon
Public Information Notice: IMF Executive Board
Concludes 2011 Article IV Consultation with
Lebanon
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