Publication:
Lebanon Economic Monitor, Fall 2022: Time for an Equitable Banking Resolution

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dc.contributor.authorWorld Bank
dc.date.accessioned2022-11-23T18:19:41Z
dc.date.available2022-11-23T18:19:41Z
dc.date.issued2022-11
dc.description.abstractThe economy continues to contract, albeit at a somewhat slower pace. Public finances improved in 2021, but only because spending collapsed faster than revenue generation. Testament to the continued atrophy of Lebanon’s economy, the Lebanese Pound continues to depreciate sharply. The sharp deterioration in the currency continues to drive surging inflation, in triple digits since July 2020, impacting the poor and vulnerable the most. An unprecedented institutional vacuum will likely further delay any agreement on crisis resolution and much needed reforms; this includes prior actions as part of the April 2022 International Monetary Fund (IMF) staff-level agreement (SLA). Divergent views among key stakeholders on how to distribute the financial losses remains the main bottleneck for reaching an agreement on a comprehensive reform agenda. Lebanon needs to urgently adopt a domestic, equitable, and comprehensive solution that is predicated on: (i) addressing upfront the balance sheet impairments, (ii) restoring liquidity, and (iii) adhering to sound global practices of bail-in solutions based on a hierarchy of creditors (starting with banks’ shareholders) that protects small depositors.en
dc.identifierhttp://documents.worldbank.org/curated/en/099927411232237649/IDU08288b3490ed820409e0886a08ea1efef93be
dc.identifier.doi10.1596/38339
dc.identifier.urihttps://hdl.handle.net/10986/38339
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectMACRO-FINANCIAL
dc.subjectGLOBAL COMPARATORS
dc.subjectDOLLARIZATION
dc.subjectPOLICIES
dc.subjectCAPITAL MARKETS
dc.titleLebanon Economic Monitor, Fall 2022en
dc.title.subtitleTime for an Equitable Banking Resolutionen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titleLebanon Economic Monitor, Fall 2022
okr.date.disclosure2022-11-23
okr.date.doiregistration2025-05-07T11:08:06.071686Z
okr.date.lastmodified2022-11-23T00:00:00Zen
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.docurlhttp://documents.worldbank.org/curated/en/099927411232237649/IDU08288b3490ed820409e0886a08ea1efef93be
okr.guid099515311282211609
okr.guid099927411232237649
okr.guid099511411282227722
okr.guid099504411282248638
okr.identifier.externaldocumentumIDU-8288b349-ed82-409e-886a-8ea1efef93be
okr.identifier.internaldocumentum33943636
okr.identifier.report177963
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099927411232237649/pdf/IDU08288b3490ed820409e0886a08ea1efef93be.pdfen
okr.region.administrativeMiddle East and North Africa
okr.region.countryLebanon
okr.topicMacroeconomics and Economic Growth::Economic Development
okr.topicMacroeconomics and Economic Growth::Economic Forecasting
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.unitEFI-MTI-Global Macro and Debt (EMFMD)
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