BREAKING NEWS

Report: Formation of new Lebanese government will attract foreign aid

By REUTERS

NOVEMBER 3, 2016 10:54

BEIRUT - Lebanon's election of a new president and the coming formation of a government will increase confidence in the economy and attract foreign aid, the country's central bank chief said on Thursday.

The Lebanese parliament elected former army commander Michel Aoun as president on Monday, ending a 29-month presidential vacuum. He is due to meet MPs later this week on their preferences for prime minister.

"The election of President Aoun should lead to a normal activity of the constitutional institutions ... thus increasing confidence in the economy," Riad Salameh said at a conference organized by the central bank.

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