Lebanon Pound in Foreign Exchange

Paper Summary:

This paper explains that Lebanon was an important international financial center through 1975; but, since 1975 the Lebanese economy has seldom had a chance to function efficiently and monetary stability frequently has proven to be elusive. This paper points out that the current exchange rate policy followed by Lebanon is a managed float targeted to the United States dollar. The author reports that Egypt's current exchange rate policy is the same as Lebanon's managed float; but Israel follows a composite currency peg policy, which assigns proportional weights to a basket of currencies to establish the exchange value for their currency and reflects that country's international trade, capital flows and other relevant economic aggregates. Annotated Bibliography.

Table of Contents
Introduction
Historical Overview
Current Exchange Rate Policy
Comparing Lebanon's Exchange Rate Policy with Those of Egypt and Israel
Conclusion

From the Paper:

"Since 1992, the government of Lebanon has faced-up to the job of restoring economic stability and confidence in the country. The government and the Central Bank of Lebanon also have broken the hold on the country's the economy of the vicious circle of inflationary financing and instability of the rate of exchange of the Lebanese pound. These actions primarily were manifestations of the dire political status in which Lebanon found itself as both a pawn and a battleground for Israelis, Syrians and Arab militant organizations."

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