Cash-Strapped Lebanon Turns to U.A.E. for Financial Support - Bloomberg:
Lebanese officials are in the United Arab Emirates seeking financial support to help keep the country afloat as it seeks to take painful austerity measures to restore investor confidence.
Central bank governor Riad Salameh said Lebanon was looking for assistance from its Gulf Arab ally and Prime Minister Saad Hariri, who traveled to Abu Dhabi at the head of a ministerial delegation, told Reuters he hoped for a cash injection into the central bank.
The comments came during an investment forum aimed at luring Emirati investment back to Lebanon, which faces mounting borrowing costs and pressure on its foreign reserves.
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