I alluded to the dropping of this sentence in March 2018 at the start of my speech, when I said that central bank communication can also send a message when something is not said, or no longer mentioned.
2  On the other hand, a Government will be loath to default on its debt if sizable amounts of defaulted debt are held by the local banks. The track record of the Lebanon, whose banks have tended to lend – I believe – a higher percentage of GDP to the Government than in any case of any other country, is testament to this.