$1 billion extra expected soon by the Central Bank. Potential for securing more funding. News from Lebanon

The Central Bank (BDL) is expected to soon obtain a deposit worth nearly $1 billion through one of the local banks, banking sources told the Central News Agency (Al Markazia).

BDL is using fresh inflows to boost its foreign currency reserves ….
Article details

State of Economic Emergency declared by political parties. Decisions include cutting deficit and selling part of public companies. News from Lebanon

Top State officials and political and financial leaders have agreed on the broad lines of a three-year economic emergency plan that aims to reduce the fiscal deficit and speed up the implementation of capital investment projects, according to Prime ….
Article details

IMF: Projected deficit well above government target. Central Bank advised to step back from sovereign bond purchases. News from Lebanon

The 2019 fiscal deficit is likely to represent 9.7 percent of GDP, well above the government’s target of 7.6 percent, according to a concluding statement by the International Monetary Fund (IMF) following its regular annual consultations with the lo….
Article details

Public debt is under control. Minister of Finance denies rescheduling follow ing Moody’s warning. News from Lebanon

The government has responded strongly to a warning issued by Moody’s, the credit rating agency.

Slowing capital inflows and weaker deposit growth increase the risk of debt rescheduling or another liability management exercise that may constit….
Article details

Fiscal deficit widens 66 percent. Revenues from VAT signal stable consumption. News from Lebanon

The fiscal deficit for 2018 increased to $6.2 billion from $3.8 billion in the previous year driven by a surge in expenditure and stagnation in revenue growth, according to the Ministry of Finance (MoF).

The MoF released the figures for this ….
Article details