An alternative to ineffective banking reforms and recovery plans The latest version of the bank resolution law has the same pitfalls as the previous ones. Mainly, the law proposed the…
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Today, one-and-a-half years after the April 2022 staff-level agreement between the International Monetary Fund (IMF) and the Lebanese government, the challenges to implementing the proposed $3 billion deal have become…
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Lebanon is facing a very challenging time, and our governments have taken no action at all and remained in a state of procrastination for the past three and a half…
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Banking & FinanceCommentSpecial Report
No Legal Legs to Stand On: Mikati’s Plan for the Financial Crisis
Since the start of Lebanon’s financial woes at the end of 2019, the government has proposed several measures to address the liquidity crisis in banks. Yet all the suggested measures…
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Lebanon’s fiscal policy over the past decades has been in most years very expansionary. Fiscal deficits at the end of the civil war relied heavily on domestic currency financing. Foreign…
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The Budget draft law for 2022 that has been submitted to the Council of Ministers, projects 55.2 trillion Lebanese pounds in expenditures with revenues of 39.1 trillion. The need…
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Introduction by Executive Editors When the Council of Ministers approved an economic reform program at the end of April, 2020, then-Prime Minister Hassan Diab hailed the plan with the epithet…
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A key driver of the Lebanese economic crisis has been the losses incurred by the public sector. These losses have impaired the banking sector and through it the deposits of…
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This article is the first in a series of articles in Executive Magazine’s upcoming “Financial Economy Special Report” prepared in collaboration with handpicked experts to cover key aspects of the…
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It took more than seven months to complete the 2019 budget law, despite the pressing need to have completed it by the maximum constitutional deadline of end January 2019. Had…
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