Lebanon on Thursday reversed a decision to stop withdrawals from dollar deposits at a fixed rate – much lower than the informal market but higher than the official peg – after protests erupted late on Wednesday.
“A decision to regard Circular 151 issued by the central bank (as) still in force has been made,” the presidency said in a statement after a meeting that included central bank chief Riad Salameh.
Salameh told reporters the central bank was not bankrupt and peoples’ deposits were safe and would be returned soon.
Lebanese banks have locked depositors out of their dollar accounts and…
