Lebanon Local Office Site
IMF Local Office in Lebanon
This web page provides information on the activities of the Office, views of the IMF staff, and the relations between Lebanon and the IMF. Additional information can be found on Lebanon and IMF country page, including official IMF reports and Executive Board documents in English that deal with Lebanon.
News — Highlights
Based on the recently published official national accounts for 1997-2010, this paper presents an update about the main contributors to Lebanon’s real GDP growth, decomposes value-added by sector and demand components, discusses disposable income, and provides a regional comparison of GDP performance. It follows two notes published in July 2010 and March 2011.
The economic outlook for the Middle East and North Africa region is mixed. Most of the region’s oil-exporting countries are growing at healthy rates while the oil importers face subdued economic prospects, the IMF says in its latest assessment.
Recent uprisings in the Middle East and North Africa provide an opportunity for the region to lay the foundation for a socially inclusive growth agenda, but in the near term, oil-importing countries face multiple pressures stemming from higher crude prices and disruptions to economic activity, the IMF said in its latest assessment of the region.
The April 2011 Regional Economic Outlook (REO) for the Middle East and Central Asia will be presented in Beirut on Friday, April 29, 2011, at an event co-hosted by Banque du Liban and the IMF. Speakers will include H.E. Riad T. Salameh, BdL Governor, and Mr. Eric Mottu, IMF Resident Representative. [View the invitation]
Lebanon and The IMF
January 22, 2014
Wabel Abdallah, the IMF’s Resident Representative in Afghanistan, was killed on Friday, January 17. Wabel, 60 years old, died in an attack at a restaurant in Kabul—the first time that the Fund has lost a staff member in this way.
Press Release: Statement by IMF Deputy Managing Director Nemat Shafik at the Conclusion of Her Visit to Lebanon
Regional Economic Outlook: Middle East and Central Asia
The near-term economic outlook for the Middle East and North Africa region has weakened. In the oil-importing countries, many of which are Arab countries in transition, regional conflict, heightened political tensions, and delays in reforms continue to weigh on growth. In this context, the immediate policy priorities are to restore confidence and create jobs, make inroads into fiscal consolidation to restore debt sustainability and rebuild buffers, and embark on structural reforms needed to support private sector-led, job-intensive growth. Most oil-exporting countries continue to enjoy steady growth in the non-oil sector, supported in part by high levels of public spending. Although headline growth has declined because of domestic oil supply disruptions and lower global demand, a recovery in oil production is expected to lift growth next year. Increased vulnerability to a sustained decline in oil prices and intergenerational equity considerations underscore the need for countries to strengthen their fiscal buffers. Key medium-term challenges remain economic diversification and faster private-sector job-creation for nationals.
Economic activity in the Caucasus and Central Asia (CCA) is expected to continue expanding rapidly, with the CCA remaining among the fastest-growing regions in the world. Growth will be driven by a recovery in the hydrocarbon sector and firm growth in domestic demand, supported in part by stable remittance inflows. Considerable downside risks weigh on this outlook, however, stemming in particular from slower-than-expected growth in Russia, an important trading partner and source of remittance inflows. CCA economies should take advantage of the favorable near-term economic conditions to rebuild fiscal policy buffers that were eroded after the global crisis. In some cases, more exchange rate flexibility would help increase resilience to unanticipated shocks while supporting competitiveness. The positive near-term outlook is also an opportunity to strengthen policy frameworks and set in motion a process of structural transformation into dynamic emerging economies.