This is Beirut - International Monetary Fund

Kanaan Rejects New Taxes and Calls for Fair Public Sector Reform

This is Beirut, 30/10 16:00 - Reading : 2 minute(s)

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Head of Parliament’s Finance and Budget Committee, MP Ibrahim Kanaan, reiterated on Thursday that the committee “rejects any increase or creation of new taxes and fees” aimed solely at closing the state’s budget deficit. “Every time the state needs funding, it imposes new burdens on citizens. This approach must stop,” Kanaan declared ...

Mali’s Fuel Crisis: A Nationwide Standstill

Christiane Tager, 29/10 10:00 - Reading : 3 minute(s)

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Since early September, queues at gas stations in Bamako have been endlessly growing. The jihadist group JNIM (Jamaʿat Nuṣrat al-Islam wal-Muslimin) has blocked fuel convoys from Senegal and Côte d’Ivoire, destroying nearly 100 tanker trucks, according to the Associated Press (AP). As a landlocked country, Mali relies on imports for more ...

Global Markets 2025: From Soaring Peaks to Sudden Crashes

Christiane Tager, 17/10 12:15 - Reading : 2 minute(s)

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Since January, major stock indices such as the S&P 500, Nasdaq and Euro Stoxx have shattered records. Fueled by surging optimism around artificial intelligence, global finance seems to be reliving its golden era. Yet beneath this spectacular rise, the ground is quaking. Every peak is followed by a dark day. In just hours, billions of dollars could ...

BDL Governor Holds Key Talks with IMF Officials in Washington

This is Beirut, 16/10 18:10 - Reading : 1 minute(s)

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The Governor of Lebanon’s Central Bank (BDL), Karim Souhaid, held a series of high-level meetings in Washington with officials from the International Monetary Fund (IMF), according to a statement issued by his press office on Thursday. Souhaid was accompanied by Deputy Governors Salim Shahine and Gaby Shnouzian, along with the Chairman of the ...

AI and Employment: A Process of Creative Destruction

Paul Guillot, 07/10 11:15 - Reading : 4 minute(s)

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AI is hailed for boosting efficiency, speed, and productivity. But behind the hype, a global concern looms: could it put millions of jobs at risk? From Salesforce headquarters to Amazon warehouses, from New York offices to emerging markets, one question dominates: is AI a ticking social time bomb? A Subtle but Global Threat The IMF estimates ...

BDL Leads Financial Recovery and Reassures Depositors

Liliane Mokbel, 29/09 19:05 - Reading : 3 minute(s)

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At a luncheon debate hosted by the École supérieure des affaires (ESA), Karim Souhaid, the Governor of Lebanon’s Central Bank (BDL), presented his assessment of the country’s economic situation – “slowly but surely moving in the right direction” – to around 40 members of the Mouvement des entreprises de France (MEDEF), currently on ...

Issa Sees ‘New Day’ for Lebanon

This is Beirut, 08/08 14:35 - Reading : 1 minute(s)

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US Congressman Darrell Issa affirmed on Friday that “this is a new day for Lebanon,” highlighting that “significant progress has been made in recent days.” Speaking after his meeting with Prime Minister Nawaf Salam, Issa described the developments as a “rebirth for Lebanon,” focusing on reconstruction efforts and urgent needs across ...

France Pledges €75 Million to Lebanon in Joint Statement with PM Nawaf Salam

This is Beirut, 25/07 09:15 - Reading : 2 minute(s)

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French President Emmanuel Macron hosted Lebanese Prime Minister Nawaf Salam on Thursday, July 24, at the Élysée Palace, marking Salam’s first official visit to France since his appointment in January. In a joint statement released at the conclusion of the visit, France and Lebanon reaffirmed their commitment to strengthening ...

Is Iran’s Economy on the Brink?

Christiane Tager, 07/07 17:25 - Reading : 2 minute(s)

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The war may be over in Iran, the missiles silenced — but another battle rages on: the economy. After decades under crippling sanctions, battered by soaring inflation and a plunging currency, Tehran is still holding on. But for how long? While the military front has quieted, the economic one remains on high alert. For years, the Islamic Republic ...

Souhaid Concludes Reform-Focused Consultations in Paris and Washington

This is Beirut, 30/06 16:20 - Reading : 1 minute(s)

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Central Bank Governor Karim Souhaid wrapped up a round of high-level technical consultations in Paris and Washington focused on advancing structural reforms in the banking sector, according to a statement issued by Banque du Liban (BDL). The meetings aimed to lay the groundwork for a comprehensive reform plan supported by legislative and ...

Renewables and Diversification: The Gulf’s Strategy

Alexandre Baz, 29/06 12:30 - Reading : 3 minute(s)

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After decades of prosperity built on fossil fuels, the Gulf monarchies are increasingly turning toward green hydrogen, pursuing a dual goal: diversifying their economies and demonstrating a credible commitment to tackling climate change. As Karim Elgendy, an ecological transition specialist, told AFP, “The Gulf states want to lead the global ...

Central Bank of Lebanon’s Governor Proposes a Specialized Body for Bank Restructuring

Maurice Matta, 28/06 15:00 - Reading : 6 minute(s)

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The subcommittee of the parliamentary Finance and Budget Committee, chaired by MP Ibrahim Kanaan, continues its review of the draft Banking Sector Restructuring Law. The discussions are centered on resolving divergences between the government's proposal, the IMF’s recommendations, and the proposals presented by Central Bank of ...

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