Lebanon: 2009 Article IV Consultation and Assessment of Performance Under the Program Supported by Emergency Post-Conflict Assistance: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Lebanon
IMF Staff Country Reports, April 23, 2009
Source details
- Canonical URL
- Lebanon: 2009 Article IV Consultation and Assessment of Performance Under the Program Supported by Emergency Post-Conflict Assistance: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Lebanon
Other formats
Bibliographic details
- Published: April 23, 2009
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451822755.002
Executive summary and key findings
- The Lebanese financial system has so far weathered the global financial crisis.
- Deposit inflows decelerated briefly in the aftermath of the Lehman Brothers bankruptcy, but have resumed at a rapid pace since then.
- Executive Directors welcomed the remarkable resilience of the Lebanese economy in the face of the global financial crisis.
- Directors supported the authorities’ monetary policy aimed at safeguarding the exchange rate peg and facilitating a further buildup of international reserves.
Themes and analysis
- Financial sector resilience
- Lebanese commercial banks sustained operations through the global financial crisis without systemic failure.
- Deposit dynamics: a temporary deceleration after the Lehman Brothers bankruptcy followed by a rapid resumption of inflows.
- Monetary policy and exchange rate regime
- Authorities maintained a monetary policy focused on safeguarding the exchange rate peg.
- Policy objective included facilitating a further buildup of international reserves.
- Governance and program assessment
- The consultation included an assessment of performance under the program supported by Emergency Post-Conflict Assistance.
- Executive Board discussion resulted in support for the monetary policy stance described above.
Subjects and keywords
- Subject: Commercial banks, Currencies, External debt, Financial institutions, Fiscal policy, Fiscal stance, Money, Public debt
- Keywords: Banque du Liban, Commercial banks, CR, Currencies, deposit dollarization, deposit inflow, dollarization, dollarization constitute vulnerability, Fiscal stance, Global, inflow, ISCR, Middle East, Paris III objective, support deposit growth
Source: Lebanon: 2009 Article IV Consultation and Assessment of Performance Under the Program Supported by Emergency Post-Conflict Assistance: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Lebanon (April 23, 2009).
Content in this bundle
- IMF Country Report _cr09131 — Executive Summary and Key Findings