Back to the Future: Postwar Reconstruction and Stabilization in Lebanon
June 18, 1999
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Following the 15-year civil war that started in 1975, Lebanon's government began the difficult task of economic stabilization and confidence building, on the one hand, and postwar reconstruction and development, on the other. The government led the reconstruction effort by formulating programs that aimed to rapidly rehabilitate the country's severly damaged infrastructure in preparation for private-sector-led growth over the medium term. At the same time, Lebanon introduced an exchange-rate-based nominal anchor policy to stabilize expectations and cut inflation. This paper analyzes the government's progress with the policies adopted.
Subject: Expenditure, Financial institutions, Government debt management, Public debt, Public financial management (PFM), Revenue administration, Treasury bills and bonds
Keywords: Asia and Pacific, Banque du Liban, East Africa, excess return, exchange rate, Global, government, Government debt management, IMF staff estimate, interest differential, Lebanese pound, maturity structure, Middle East, North Africa, OP, private sector activity, service factor, State apparatus, Treasury bills and bonds, U.S. dollar treasury bills
Pages:
111
Volume:
1999
DOI:
Issue:
005
Series:
Occasional Paper No. 1999/005
Stock No:
S176EA0000000
ISBN:
9781557757845
ISSN:
0251-6365
