Mar 26, 2017
Lebanon’s prospects: Economic impasse or opportunity for reform?
Reaction to the IMF 2016 Article IV Consultation in Lebanon Monetary and fiscal policies are key instruments for economic policy in general. They reflect an intended economic model and the sought type of growth. Both policies are interlinked and complementary, they could not be treated in isolation. In the Lebanese context, these economic instruments have been used in a very conservative manner. This created economic patterns that have been penalizing the expansion of the real economy, crowding out investment and deepening social inequalities. This led to the allocation of valuable resources to restrictive monetary practices favoring inflating rent-based activities, currency pegging and debt financing.
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