{
  "title": "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",
  "publication": "IMF Staff Country Reports, April 23, 2009",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/lebanon-2009-article-iv-consultation-and-assessment-of-performance-under-the-program-22897",
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  "summary": "The Lebanese financial system has so far weathered the global financial crisis. The 2009 Article IV Consultation highlights that deposit inflows decelerated briefly in the aftermath of the Lehman Brothers bankruptcy, but have resumed at a rapid pace since then.",
  "sections": [
    {
      "heading": "Executive summary and key findings",
      "content": "- The Lebanese financial system has so far weathered the global financial crisis.\n- Deposit inflows decelerated briefly in the aftermath of the Lehman Brothers bankruptcy, but have resumed at a rapid pace since then.\n- Executive Directors welcomed the remarkable resilience of the Lebanese economy in the face of the global financial crisis.\n- Directors supported the authorities’ monetary policy aimed at safeguarding the exchange rate peg and facilitating a further buildup of international reserves."
    },
    {
      "heading": "Themes and analysis",
      "content": "- Financial sector resilience\n  - Lebanese commercial banks sustained operations through the global financial crisis without systemic failure.\n  - Deposit dynamics: a temporary deceleration after the Lehman Brothers bankruptcy followed by a rapid resumption of inflows.\n\n- Monetary policy and exchange rate regime\n  - Authorities maintained a monetary policy focused on safeguarding the exchange rate peg.\n  - Policy objective included facilitating a further buildup of international reserves.\n\n- Governance and program assessment\n  - The consultation included an assessment of performance under the program supported by Emergency Post-Conflict Assistance.\n  - Executive Board discussion resulted in support for the monetary policy stance described above."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subject: Commercial banks, Currencies, External debt, Financial institutions, Fiscal policy, Fiscal stance, Money, Public debt\n- 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\n\nSource: 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).\n\n---\n\n Content in this bundle\n\n- IMF Country Report cr09131 — Executive Summary and Key Findings\n  - IMF Country Report cr09131 — Executive Summary and Key Findings (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - IMF Country Report cr09131 — Executive Summary and Key Findings (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: April 23, 2009",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451822755.002",
    "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.",
    "Financial sector resilience",
    "Monetary policy and exchange rate regime",
    "Governance and program assessment",
    "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",
    "**IMF Country Report _cr09131 — Executive Summary and Key Findings**"
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