Massoud A Derhally | The National

Riad Salameh the governor of Lebanon's central bank, speaks during a press conference in Beirut. AP

Lebanon 'has no haircut or capital control plans'

The regulator's governor Riad Salameh said the bank can immediately deploy $30bn if required

EconomyNovember 11, 2019

Lebanese protesters demand the president make parliamentary consultations immediately to facilitate the formation of a new government that replaces the recently resigned cabinet. They also demand the formation of a technocratic government with no political affiliation. EPA

Lebanon's private sector registers slowest 3-year decline in business conditions

The slower deterioration in operating conditions was partly driven by a softer fall in output at Lebanese private sector firms in October

EconomyNovember 07, 2019

A protester wave Lebanese flag in front the government palace during ongoing anti-government protests in downtown in downtown Beirut. Lebanon's credit ratings were cut deeper into non-investment grade territory by Moody's Investors Service on Tuesday. EPA

Moody's downgrades Lebanon deeper into junk status

Agency says recent turmoil makes some form of deficit rescheduling more likely

EconomyNovember 06, 2019

The central bank of Lebanon instructed lenders to increase their capital requirements in the wake of the country's deteriorating economic situation. AP

Lebanon’s central bank commands lenders halt dividends and hike capital by 20%

Lenders have to increase their capital in two phases by the end of June 2020 to help ease growing pressure

BankingNovember 05, 2019

The public offering of the world's most profitable company is set to be the largest globally. Reuters

Saudi Arabia approves Aramco IPO

The listing of the world's most profitable company is slated to be the largest globally

EnergyNovember 04, 2019

People use ATM outside a closed bank, in Beirut. Lebanese banks have been closed for the last two weeks as the government grapples with mass demonstrations that have paralyzed the country, but an even greater crisis may set in when they reopen Friday. AP

Lebanon's banks to open on Friday after two-week closure

The operating hours of banks will be extended for the first two days, according to the Association of Banks in Lebanon

EconomyOctober 31, 2019

Customers use automated teller machines at a Bank Audi bank branch. Banks have been closed in the country for almost two weeks and the central bank governor says no capital controls will be imposed. Bloomberg

Fitch cuts ratings of two of Lebanon’s largest banks due to liquidity risks

Both Bank Audi and Byblos Bank have been downgraded by the rating agency due to the impact of rising political tensions

EconomyOctober 30, 2019

Saad Azhari, chairman of Blom Bank, says "the Lebanese economy can turn around and follow a steady growth path". Reuters

Lebanon's largest lender believes country can turn the page

Exclusive: Blom Bank's chairman says the government needs to implement urgent reforms to spur growth

EconomyOctober 20, 2019

People listen to a panel discussion during the IMF World Bank Annual Meetings at the World Bank Headquarters in Washington on Wednesday. EPA

Mena region needs to accelerate reform — World Bank

Exclusive: The Mena region needs a "Sherman Act-like moment" to open up economies and encourage private sector growth

EconomyOctober 20, 2019

Lebanese demonstrators taking a picture of a Guy Fawkes mask during a protest in front of the Grand Serail in downtown Beirut as protestors continued to gather in the country for a third day against tax increases and alleged official corruption after the security forces made dozens of arrests. AFP

At Washington reception bankers dine on seafood as Lebanon faces reckoning

In times of crisis Lebanon’s economic stability has customarily hinged on the wisdom and foresight of its central bank governor but even he has limited firepower

EconomyOctober 20, 2019

The International Monetary Fund said political change in Sudan provides a new opportunity to boost economic growth. AFP

IMF would review Lebanon aid package request if put forward, official says

The government needs to rebalance the economy which is forecast to slow down to 0.2% this year making fiscal deficit containment imperative

EconomyOctober 18, 2019

Public anger in Lebanon simmered since parliament passed an austerity budget in July to help trim a ballooning deficit and flared on Thursday over new plans to tax calls on messaging applications such as WhatsApp, forcing the government to axe the unpopular proposal. AFP

IMF urges Lebanon to rebalance economy and check risks

Public debt, currently $86.3bn and 150% of economic output, is forecast to increase to 155% by the end of 2019

EconomyOctober 18, 2019

At a briefing during the IMF/World Bank 2019 Annual Fall Meetings IMF Managing Director Kristalina Georgieva called for a review of the world trading system to cope with technological disruption and uncertainty of climate change which impact global growth. AFP

IMF chief says fast pace of change necessitates trade system reform

Job losses from automation, dislocations from trade and aging populations make the need for reforms more urgent said Kristalina Georgieva.

EconomyOctober 18, 2019

Nandan Nilekani, co-founder and chairman of Infosys, speaking at a panel discussion during the International Monetary Fund and World Bank Group annual meeting in Washington. Bloomberg

How Big Tech is reshaping banking and financial services

New platform enabled India’s government open 330 million accounts for those without bank access in 10 years instead of 46

TechnologyOctober 17, 2019

IMF Managing Director Kristalina Georgieva during the 2019 IMF World Bank Annual Meetings in Washington DC talked about how improved gender parity can lead to better economic outcomes. IMF Photograph/Cliff Owen

Gender equality and social transformation are irreversible, IMF chief says

On average women do 2.7 hours more of unpaid work per day than men

EconomyOctober 16, 2019