Publication:
Lebanon Economic Monitor - Spring 2023: The Normalization of Crisis Is No Road for Stabilization

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dc.contributor.authorWorld Bank
dc.date.accessioned2023-07-18T16:05:30Z
dc.date.available2023-07-18T16:05:30Z
dc.date.issued2023-05-15
dc.description.abstractThe systemic failure of Lebanon’s banking system and the collapse of the currency have resulted in a large, dollarized cash-based economy, worth an estimated US$9.86 billion or 45.7 percent of GDP in 2022 (Special Focus: Gauging the Size of the Cash Economy in Lebanon). A pervasive and growing dollarized cash economy is a major impediment to Lebanon’s economic recovery. It not only threatens to compromise the effectiveness of fiscal and monetary policy, but also heightens the risk of money laundering, increases informality, and prompts further tax evasion. Moreover, the increasing reliance on cash transactions also threatens to completely reverse the progress that Lebanon made pre-crisis towards enhancing its financial integrity by instituting robust anti-money laundering mechanisms in its commercial banking sector.
dc.identifierhttp://documents.worldbank.org/curated/en/099027005152320346/IDU0ea0213ae0e0f804ba309c7a00638cf710a36
dc.identifier.doi10.1596/40027
dc.identifier.urihttps://openknowledge.worldbank.org/handle/10986/40027
dc.languageEnglish,Arabic,French
dc.publisherWashington, DC: World Bank
dc.rightsCC BY-NC 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by-nc/3.0/igo
dc.titleLebanon Economic Monitor - Spring 2023
dc.title.subtitleThe Normalization of Crisis Is No Road for Stabilization
dspace.entity.typePublication
okr.crossref.titleLebanon Economic Monitor - Spring 2023: The Normalization of Crisis Is No Road for Stabilization
okr.date.disclosure2023-05-16
okr.date.lastmodified2023-05-16T00:00:00Z
okr.doctypeReport
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/099027005152320346/IDU0ea0213ae0e0f804ba309c7a00638cf710a36
okr.guid099027005152320346
okr.identifier.docmidIDU-ea0213ae-e0f8-4ba3-9c7a-0638cf710a36
okr.identifier.doihttp://dx.doi.org/10.1596/40027
okr.identifier.doihttps://doi.org/10.1596/40027
okr.identifier.externaldocumentum34063295
okr.identifier.internaldocumentum34063295
okr.identifier.report182128
okr.import.id713
okr.importedtrue
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099027005152320346/pdf/IDU0ea0213ae0e0f804ba309c7a00638cf710a36.pdf
okr.region.countryLebanon
okr.unitMNA External Affairs (ECRMN)
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