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Can Lebanon Defy Gravity Forever?

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  • Uwe Böwer

Abstract

Lebanon’s new government was finally agreed in January 2019, after an almost 9-month deadlock over political representation.As much of the reform momentum stemming from an international investors’ conference in April 2018 has faded, the government is now facing the challenge to reinvigorate the reform agenda and make credible steps towards fiscal consolidation. While Lebanon has long been able to maintain a surprising level of resilience amidst high economic volatility and a tumultuous geopolitical environment, the pressure has been rising to tackle the large twin deficits, the very high level of public debt, and the protracted lack of competitiveness. As life-sustaining financial inflows have slowed down, Lebanon’s past business model has come under scrutiny. Substantial fiscal consolidation and a credible plan for growth-enhancing structural and governance reforms would play an important role in rebuilding investors’ confidence and pave the way for an economic recovery built on a solid foundation. Length: 20 pages

Suggested Citation

  • Uwe Böwer, 2019. "Can Lebanon Defy Gravity Forever?," European Economy - Economic Briefs 046, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    • Handle: RePEc:euf:ecobri:046
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    References listed on IDEAS

    as
    1. Mr. Sebastian Acevedo Mejia & Lu Han & Miss Marie S Kim & Ms. Nicole Laframboise, 2016. "Flying to Paradise: The Role of Airlift in the Caribbean Tourism Industry," IMF Working Papers 2016/033, International Monetary Fund.
    2. International Monetary Fund, 2018. "Mexico: 2018 Article IV Consultation-Press Release; Staff Report; and Staff Statement," IMF Staff Country Reports 2018/307, International Monetary Fund.
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    More about this item

    Keywords

    Lebanon; fiscal sustainability; external rebalancing; financial stability; growth; public sector governance; Böwer.;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • F31 - International Economics - - International Finance - - - Foreign Exchange

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