IMF Staff Country Reports

Lebanon : 2019 Article IV Consultation-Press Release; Staff Report; Informational Annex; and Statement by the Executive Director for Lebanon

Author/Editor:

International Monetary Fund. Middle East and Central Asia Dept.

Publication Date:

October 17, 2019

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Lebanon’s economic position continues to be very difficult, with very low growth, high public debt and large twin deficits. While financial stability has been maintained, deposit inflows, critical to finance the budget and external deficits, slowed down during the past year, reducing the authorities’ room for maneuver. The new government has taken some important policy steps to start the needed policy adjustment, which could help raise confidence among investors and donors. The parliament has approved a plan to reform the electricity sector and reduce its fiscal cost as well as a budget that aims to reduce the overall fiscal deficit in 2019. However, substantial new measures are still needed to reduce the exceptionally large domestic and external imbalances and mitigate Lebanon’s vulnerabilities.

Series:

Country Report No. 19/312

Subject:

Central Banks Economic conditions Economic growth External sector Financial crises