The Lebanese economy had a turning point in year 2019, crowned by sudden drop in capital inflows and surging interest rates on deposits that marked the start of a currency crisis. Further massive social unrest, financial and monetary pressures have certainly had by far the largest negative impact on the economy. Real GDP retracted by 6.7% according to the World Bank, public debt increased by $6.5B and inflation soared to unprecedented levels, while the local currency started to deteriorate by the end of 2019.
This situation was taking its toll on the performance of the Lebanese banks which was published by Bilanbanques’ report for year 2019.
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Performance and exposure of the Lebanese commercial banks in 2019