IMF Article IV Consultation for Lebanon 2019: Substantial Measures are still in need to reduce the exceptionally large domestic and external imbalances

Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. In the context of the 2019 Article IV consultation with Lebanon, the staff report ... read more

Rouba Chbeir
Economic Digest
December 6, 2019

The Balance of Payments Deficit Stood at $197.9M in October 2019 alone, Carrying Key Indications Linked to the Social Unrest

For a proper analysis of the changes to the Lebanese balance of payments in October 2019 to-date, it is worthy to take note of the developments on the political scene (attached to the ongoing civic protest ... read more

Rouba Chbeir
Economic Digest
December 5, 2019

Odeabank’s Net Profit Plunged to $3.91M in Q3 2019

Bank Audi released the financial statements of its Turkish subsidiary Odeabank which showed a slump in its Net profit from $28.9M in Q3 2018 to $3.91M in Q3 2019. In fact, the Net interest income fell by ... read more

Rouba Chbeir
Economic Digest
December 5, 2019

Profits of Bank Audi’s Egyptian Subsidiary Rose by 6.52%YOY to $67.1M in Q3 2019

According to the financial statements of Bank Audi’s Egyptian subsidiary, the bank’s Net profit for Q3 2019 increased by a yearly 6.52% to settle at $67.1M. The rise in profits is linked to the annual ... read more

Sara Hadchiti
Economic Digest
December 4, 2019

BDL Reduces Interest Rates on foreign and LBP deposits to 5% and 8.5%, respectively

On December 4th, Lebanon’s central bank issued circular instructing banks to lower interest rates on U.S. dollar and Lebanese pound deposits amid the critical financial situation. In details, BDL asked the ... read more

Rouba Chbeir
Economic Digest
December 3, 2019

Lebanon’s Fiscal Deficit Contracted by 12.8% to $2.95B by August 2019

The fiscal deficit (on cash basis) of Lebanon narrowed from $3.38B in the first 8 months of 2018 to $2.95B by August 2019. The reduced deficit is attributed to a 4.81% annual decline in government ... read more

Rouba Chbeir
Economic Digest
December 2, 2019

Average Inflation Rate at 2.45% by October 2019

According to the latest data published by the Central Administration of Statistics (CAS) Average consumer prices in Lebanon rose by 2.45% year-on-year (YOY) by October 2019, compared to a rigorous rate of ... read more

Sara Hadchiti
Economic Digest
November 29, 2019

Beirut’s Hotel Occupancy Rate at 71.60% in Q3 2019

According to Ernst & Young Middle East hotel benchmark survey, the occupancy rate in Lebanon’s 4- and 5-star hotels reached 71.60% by September 2019, compared to 63.60% during the same period last ... read more

Rouba Chbeir
Economic Digest
November 28, 2019

Total Number of Cleared Checks Slashed by 50%YOY in October 2019 as Protests Erupted

With banks closing their doors since mid-October during the protests, people preferred dealing in cash payments. In fact, the latest statistics provided by the Association of Lebanese Banks (ABL) showed ... read more

Sara Hadchiti
Economic Digest
November 27, 2019

Gross Public Debt Increased by 3.5% YOY to Stand at $86.77B in Q3 2019

The latest data released by the Ministry of Finance (MoF) revealed Lebanese gross public debt grew by a yearly 3.5% to touch $86.77B in Q3 2019. In details, domestic debt (denominated in LBP) increased by ... read more

Rouba Chbeir
Economic Digest
November 26, 2019

October 2019 Witnessed a 17.7% YOY Contraction in the Number of Real Estate Transactions

Real estate activity continued its feeble performance during the ongoing protests that broke out in Lebanon on October 17th 2019. Data from the General Directorate of Land Registry and Cadastre (LRC) ... read more

Sara Hadchiti
Economic Digest
November 25, 2019

Number of Construction Permits Slumped by 17.69% to 9,708 by October 2019

According to the Orders of Engineers in Beirut and Tripoli, the total number of construction permits dropped by an annual 17.69% to reach 9,708 by October 2019. It followed that the Construction Area ... read more

Sara Hadchiti
Economic Digest
November 21, 2019

BDL’s Foreign Assets Reached $37.12B in Mid-November 2019

The balance sheet of the Lebanese Central Bank (BdL) revealed that total assets reached $137.61B in mid- November 2019, recording a 0.65% increase from end-October‘s 2019 level. BDL’s “Foreign Assets” ... read more

Rouba Chbeir
Economic Digest
November 20, 2019

The Number of Total Registered New Cars Slumped by 28%YOY to 22,008 by October 2019

“The number of new cars registered during the month of October 2019 has dramatically dropped by 62 % in comparison with the month of October 2018”, according to the latest statement by the Association of ... read more

Sara Hadchiti
Economic Digest
November 18, 2019

Lebanese Commercial Banks’ Total Assets Added 5.10% y-t-d to $262.20B in Q3 2019

According to Lebanon’s consolidated commercial banks’ balance sheet, total assets grew by 5.10% year-to-date (y-t-d), to stand at $262.20B by September 2019. In details, Resident customers’ deposits (which ... read more

Rouba Chbeir
Economic Digest
November 15, 2019

Standard & Poor’s Lowered its Ratings on Three Lebanese Banks to “CCC”

On November 15th 2019 S&P issued a recent report in which it lowered its long-term credit ratings on Audi Bank, BLOM Bank, and Bank Med from “B-” to “CCC”. The credit agency also lowered its short-term ... read more

Sara Hadchiti
Economic Digest
November 14, 2019

Lebanon’s Balance of Payments Deficit at $4.5B by September 2019

According to Banque du Liban (BDL), Lebanon’s Balance of Payments (BoP) registered a deficit of $4.5B in Q3 2019, compared to a deficit of $1.3B deficit recorded during the same period in 2018. In details, ... read more

Sara Hadchiti
Economic Digest
November 8, 2019

BDL Instructs Banks to raise capital by up to 20% by the end of June 2020

On November 4th, Lebanon’s central bank issued a circular instructing local lenders to raise their capital (common equity tier one) by 10% before the end of the year and a further 10% by the end of June ... read more

Sara Hadchiti
Economic Digest
November 6, 2019

Moody’s downgrades Lebanon’s credit rating from Caa1 to Caa2

In November 2019, Moody’s downgraded the Government of Lebanon’s issuer ratings to Caa2 from Caa1 noting that the ratings remain on review for further downgrade in the next 3 months. Lebanon mainly ... read more

Sara Hadchiti
Economic Digest
November 5, 2019

Cement Deliveries Declined by 29.83% to 1.24M tons y-o-y by August 2019

Cement deliveries decreased by an annual 29.83% by August 2019 to stand at 2.24M tons, compared to 3.19M tons by August 2018. In addition, the six-month moving average of the number of cement deliveries ... read more

Sara Hadchiti
Economic Digest
November 4, 2019

Total Assets of BDL Down by 2.76% YTD to $136.72 B by October 2019

According to the central bank’s (BDL) balance sheet, total assets dropped by 2.76% since year-start, to end the month of October 2019 at $136.72B. In details, BDL foreign assets account (constituting ... read more

Rouba Chbeir
Economic Digest
November 1, 2019

Value of Cleared Checks Down by 14.6%YOY to $42.4B by Sept. 2019

According to the Association of Banks (ABL), the total value of cleared checks decreased by 14.6% in Q3 2019, which illustrates lower business spending and the fact that people are possibly using alternate ... read more

Disclaimer
The content of this blog is for information purposes only. The information herein has been compiled from, or based upon sources we believe to be reliable, but we do not guarantee or accept responsibility for its completeness or accuracy. This document should not be construed as a solicitation to take part in any investment, or as constituting any representation or warranty on our part. The consequences of any action taken on the basis of information contained herein are solely the responsibility of the recipient.

Lebanon Trade Activity in H1 2019

Lebanon Trade Activity in H1 2019

Tourism: Lebanon’s Bright Spot in H1 2019

Tourism: Lebanon’s Bright Spot in H1 2019

The Lebanese Car Market Performance in H1 2019

The Lebanese Car Market Performance in H1 2019

Lebanese Eurobonds & their Comparables in H1 2019

Lebanese Eurobonds & their Comparables in H1 2019

Equities’ and Commodities’ Performance around the world in H1 2019

Equities’ and Commodities’ Performance around the world in H1 2019

BLOMINVEST BANK launches BRITE, a free economic data portal for the region

BLOMINVEST BANK launches BRITE, a free economic data portal for the region

The Current State of “Wine”

The Current State of “Wine”

IMF Article IV Consultation for Lebanon 2019: Substantial Measures are still in need to reduce the exceptionally large domestic and external imbalances

The Balance of Payments Deficit Stood at $197.9M in October 2019 alone, Carrying Key Indications Linked to the Social Unrest

Odeabank’s Net Profit Plunged to $3.91M in Q3 2019

Profits of Bank Audi’s Egyptian Subsidiary Rose by 6.52%YOY to $67.1M in Q3 2019

BDL Reduces Interest Rates on foreign and LBP deposits to 5% and 8.5%, respectively

Lebanon’s Fiscal Deficit Contracted by 12.8% to $2.95B by August 2019

Average Inflation Rate at 2.45% by October 2019

Beirut’s Hotel Occupancy Rate at 71.60% in Q3 2019

Total Number of Cleared Checks Slashed by 50%YOY in October 2019 as Protests Erupted

Gross Public Debt Increased by 3.5% YOY to Stand at $86.77B in Q3 2019

October 2019 Witnessed a 17.7% YOY Contraction in the Number of Real Estate Transactions

Number of Construction Permits Slumped by 17.69% to 9,708 by October 2019

BDL’s Foreign Assets Reached $37.12B in Mid-November 2019

The Number of Total Registered New Cars Slumped by 28%YOY to 22,008 by October 2019

Lebanese Commercial Banks’ Total Assets Added 5.10% y-t-d to $262.20B in Q3 2019

Standard & Poor’s Lowered its Ratings on Three Lebanese Banks to “CCC”

Lebanon’s Balance of Payments Deficit at $4.5B by September 2019

BDL Instructs Banks to raise capital by up to 20% by the end of June 2020

Moody’s downgrades Lebanon’s credit rating from Caa1 to Caa2

Cement Deliveries Declined by 29.83% to 1.24M tons y-o-y by August 2019

Total Assets of BDL Down by 2.76% YTD to $136.72 B by October 2019

Value of Cleared Checks Down by 14.6%YOY to $42.4B by Sept. 2019

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Lebanon Trade Activity in H1 2019

Tourism: Lebanon’s Bright Spot in H1 2019

The Lebanese Car Market Performance in H1 2019

Lebanese Eurobonds & their Comparables in H1 2019

Equities’ and Commodities’ Performance around the world in H1 2019

BLOMINVEST BANK launches BRITE, a free economic data portal for the region

The Current State of “Wine”