BEIRUT, Lebanon, April 22 (UPI) -- The Syrian withdrawal and the formation of a new government in Lebanon have apparently had a positive effect on the nation's banking and financial situation.
"We believe that the difficult phase which followed Premier Rafik Hariri's assassination has been surmounted," a banking source told United Press International.
The source, who declined to be identified, said after Hariri's death, some 82 percent of bank deposits were switched from local currency to dollar accounts. But now that trend has reversed, because of what he called "positive shocks" -- the withdrawal of Syrian forces, expected to be completed by the end of the month, and the formation of a new government under Prime Minister Najib Mikati, ending a two-month cabinet crisis.
Moreover, the new government's promises to hold general elections in May, cooperate with an international investigation team probing Hariri's assassination and a bid to dismiss security chiefs accused of laxity and neglect, eased political tensions and reflected positively on the financial situation, the source said.
