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by Executive Editors

lending bounces back Central bank figures suggest that regular lending in Lebanon has resumed in 2010 after showing slow growth in 2009 due to the financial crisis. Commercial bank lending saw a 3.5 percent increase (equating to $988 million) from January to last month, reaching a total of $29.36 billion. Perhaps offering evidence of a global economic recovery, much of this growth came from lending to the non-resident private sector. Loans to the non-resident private sector grew by $589 million, far exceeding the $137 million in lending growth to that sector for the whole of 2009, and amounted to a total of $4.7 billion. Lending to the domestic private sector increased by $399 million in January, reaching $24.7 billion. As loan growth leaned heavily toward non-residents, growth in foreign currency lending was six times the growth of Lebanese lira lending, possibly allowing Lebanon’s banks to resume the strategy of regional

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