Lebanon at Risk: The Uncertain Road from A Debt Overhang to A New Growth Path

Ishac Diwan () and Henri Chaoul
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Ishac Diwan: Finance for Development Lab, Paris School of Economics

No 1645, Working Papers from Economic Research Forum

Abstract: This paper provides an account of the 2019 financial crisis in Lebanon. It then analyzes a series of related questions. First, it considers the historical background and asks how the crisis could have been averted. Second, it reviews post-crises economic developments and attempts to explore the reasons behind their severity. Third, it reviews the policy recommendations suggested to exit the crisis and examines whether they need to be updated in view of recent developments. Fourth, it offers a vision of a new growth path for Lebanon and examines the implications of a recovery strategy. Finally, it discusses a revised donors’ strategy better adapted to the current circumstances.

Pages: 42
Date: 2023-08-20, Revised 2023-08-20
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Published by The Economic Research Forum (ERF)

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