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Reconstructing Lebanon’s Economy

In: Economic Challenges Facing Middle Eastern and North African Countries

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  • Georges Corm

Abstract

This chapter analyzes the issues associated with reconstructing the Lebanese economy after fifteen years of violence (1975–90). An ambitious $11.7 billion reconstruction plan launched in 1992 seeks to restore Beirut to its former position as an important regional banking and services center. The analysis here focuses on the implementation of this plan, particularly its shortcomings. Two issues are paramount. The first pertains to the huge fiscal and monetary imbalances that threaten Lebanon’s economy in the postwar era; the second concerns the huge social needs of the poor segments of the population. The plan, the chapter concludes, is not addressing either issue effectively.

Suggested Citation

  • Georges Corm, 1998. "Reconstructing Lebanon’s Economy," Palgrave Macmillan Books, in: Nemat Shafik (ed.), Economic Challenges Facing Middle Eastern and North African Countries, chapter 7, pages 116-135, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-26124-6_7
    DOI: 10.1007/978-1-349-26124-6_7
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