Papers on "Lebanon's Economics" and similar term paper topics
Paper #059994 ::
Lebanon's Economics
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This paper discusses the management of Lebanon's public debt.
Written in 0; 4,020 words; 14 sources; MLA;
$ 108.95
Paper Summary:
This paper explains that Lebanon's massive debt, which exceeds $35 billion and which is attributed to the substantial expenditure to rectify the damages to the infrastructure caused by the civil war and continued borrowing and spending, is taking away most of the government's revenues in terms of debt servicing; however, Lebanon has registered a marked improvement in economic performance. The author points out that the Paris II conference in 2002 committed over $4 billion to Lebanon in the form of soft loans, subject to the condition that Lebanon would implement specific reforms, including privatization. The paper relates that the International Monetary Fund, while commending the improvement of macroeconomic parameters, has expressed deep concern at the rising debt levels and lack of progress in privatization.
Table of Contents
Introduction
Lebanese Economy and Economic Trends
Agreements with IMF
Lebanon's Debt Position
National Income
Treasury performance
Privatization
Recommendations for Improving the Debt Position of Lebanon
Rationalization of National Expenditures
Improve Macroeconomic Stabilization
Free Trade
Proceed with Structural Reforms
Better Debt Management
Improving the Functioning of Finance Sector and Banking Sector
Focus on Infrastructure
Flexible Exchange Rates
Other Recommendations
From the Paper:
"The International Monetary Fund (IMF) has projected that the growth in GDP growth of 5 percent in 2004. Although the Iraq war did affect trade, Lebanon managed to achieve a real GDP growth of about three percent in 2003, even while keeping inflation under tight control. Added to this is the depreciation of the US dollar, which has resulted in greater price competitiveness for Lebanese goods and services, since the Lebanese pound is pegged to the dollar. Another reason is the substantial increase in the capital inflows in 2003, due to increase in Arab savings and good returns on deposits. For instance, yields on two year deposits and treasury bills have settled around 8 percent. Consequently, the liquidity showed a growth of 15 percent in 2003. Gross reserves were around USD 10 billion, However, the current account deficit declined only marginally to about 13 percent of the GDP."
Tags:
privatization structure loans recommendations imf
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