International Monetary Fund

All Eyes on the Ministry of Finance

Natasha Metni Torbey, 27/01 22:00 - Reading : 4 minute(s)

Amal Banks Central Bank of Lebanon Hezbollah International Monetary Fund

The exception is not the rule. This saying does not apply to Lebanon, where for over a decade, well after the signing of the Taif Agreement in 1989, the Amal-Hezbollah duo has persistently claimed—“de facto and de jure,” as they often assert—the Ministry of Finance, one of the most coveted portfolios in the country. The reasons behind ...

IMF chief tells Europe to take page out of US book

This is Beirut, 24/01 16:00 - Reading : 2 minute(s)

International Monetary Fund Europe USA Donald Trump Davos

With the European economy lagging behind the United States, the head of the International Monetary Fund had a piece advice for the continent on Friday: "Believe in yourself." There was much handwringing about Europe losing its competitive edge at the World Economic Forum in Davos this week, with the European Union racing to act to catch up with ...

Saudis showcase charm offensive in Davos

This is Beirut, 24/01 15:20 - Reading : 3 minute(s)

Formula One International Monetary Fund Saudi Arabia Davos Diplomacy

Two buildings branded "Saudi House" and "Saudi At Davos" stand out on the chic main street of the Swiss Alpine village hosting the World Economic Forum, showcasing the kingdom's growing presence at major international events. Saudi officials and business leaders make the annual pilgrimage to the meeting of the world's global elites every year, ...

The Reconstruction of War-Torn Areas in Lebanon: A Complex and Uncertain Equation

Natasha Metni Torbey, 2024-11-29 17:25 - Reading : 4 minute(s)

Banks Hezbollah International Monetary Fund Israel South Lebanon

The end of hostilities between Hezbollah and Israel raises a critical question for the Lebanese: who will bear the financial responsibility for rebuilding the villages and cities devastated by the conflict? In a country already mired in an unprecedented economic and political crisis, options are both limited and complex. Several actors could ...

The IMF Raises Its 2023 Growth Forecast for Lebanon's GDP

This is Beirut, 2024-11-20 12:55 - Reading : 2 minute(s)

International Monetary Fund Lebanon GDP

The International Monetary Fund (IMF) has raised its 2023 GDP forecast for Lebanon, now estimating it at $24 billion, up from $16.2 billion in its June 2023 report. This upward revision reflects the adoption of a new methodology for calculating national accounts, leading to a 50% increase in the estimated GDP value. The update is part of the ...

2025 Budget: A Looming Fiscal Crisis

Liliane Mokbel, 2024-11-15 18:30 - Reading : 4 minute(s)

Central Bank of Lebanon Hezbollah International Monetary Fund Israel Budget 2025

With spending on the rise and revenues falling short of expectations, the 2025 budget proposal is now effectively obsolete. The government must act swiftly to withdraw it from Parliament, where it was submitted on time, to prevent a deepening crisis. Why is a crisis inevitable? The current draft budget relies on unrealistic revenue projections, ...

Trump's Economic Policies and Lebanon's Dollar Crisis

Liliane Mokbel, 2024-11-14 11:25 - Reading : 5 minute(s)

Banks Central Bank of Lebanon Donald Trump International Monetary Fund USA

While the dollar’s value is primarily shaped by US domestic factors, its fluctuations continue to ripple through the global economy. A 2023 International Monetary Fund (IMF) study found that the negative impact of a strong dollar tends to last around two and a half years in emerging markets, compared to just one year in developed economies. The ...

Global Public Debt to Exceed $100tn Says IMF

This is Beirut, 2024-10-15 12:20 - Reading : 2 minute(s)

Covid-19 International Monetary Fund

Global public debt is expected to reach a record $100 trillion this year, the IMF said Tuesday, warning that the fiscal outlook for many countries may be even "worse than expected." In its latest report on fiscal policy, the International Monetary Fund said it expects global public debt to hit 93 percent of global gross domestic product (GDP) ...

Sri Lanka Announce First Elections Since Economic Crisis

This Is Beirut, 2024-07-26 13:33 - Reading : 2 minute(s)

International Monetary Fund

Sri Lanka's first presidential elections since an unprecedented economic crisis spurred widespread unrest will be held in September, the election commission said Friday. The election will be the first test of the public mood since the height of the 2022 downturn, which caused months of food, fuel and medicine shortages across the island ...

Tunisia to Hold Presidential Election on October 6

This Is Beirut, 2024-07-03 11:24 - Reading : 1 minute(s)

International Monetary Fund

Tunisia will hold a presidential election on October 6, the office of President Kais Saied announced Tuesday, though he has not indicated if he will seek a new five-year term after his 2019 election. Saied, a constitutional specialist, took full control of the country in 2021, ruling by decree after dismissing his prime minister and parliament, ...

IMF and World Distraught by Middle East Instability

This Is Beirut, 2024-02-12 22:19 - Reading : 2 minute(s)

International Monetary Fund

The IMF and World Bank expressed their fears over the repercussions of  instability in the Middle East. The war in Gaza and the Houthi's attacks in the Red Sea are jeopardizing the global economy. The IMF and World Bank warned on Monday that the Gaza war and the related attacks on shipping though the Red Sea pose threats to the global ...

Red Sea Container Shipping Down 30% Over Attacks

This Is Beirut, 2024-01-31 19:01 - Reading : 2 minute(s)

European Union International Monetary Fund

The International Monetary Fund announced on Wednesday that container shipping through the Red Sea has decreased by nearly one-third this year due to ongoing attacks by Yemen's Houthis. Container shipping through the Red Sea has dropped by nearly one-third this year as attacks by Yemen's Houthi rebels continue, the International Monetary Fund ...

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