Editors’ Picks

This category features selected articles and experts’ opinions on economic matters. You can contact us to submit your own contribution to be published under this category

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Lebanon’s Gold Reserves: To Lock or to Unlock?

Following the recent appointment of Karim Souaid as the governor of Lebanon’s Central Bank, Banque Du Liban (BDL), on March 27, 2025, a central debate has emerged regarding the potential use of the ... read more

Debt Sustainability Analysis: A Critical Note on Lebanon

Debt Sustainability Analysis, perhaps needless to say, is of crucial importance to countries going through severe debt crisis. And it is so because of primarily two reasons: first, to ensure what would be ... read more

BDL’s FX Market Operations and NFA: A Suggested Explanation

In the spirit of transparency, and under the new Acting Governor, BDL published at end August 2023 its itemized liquid foreign currency balance sheet, which showed that BDL’s liquid net foreign assets ... read more

WB: Lebanon Needs $11 Billion for Recovery and Reconstruction

Last week, the World Bank (WB) published a report titled Rapid Damage and Needs Assessment (RDNA) in collaboration with the National Council for Scientific Research – Lebanon (CNRS-L). The report ... read more

Lebanon: If and When Financial Assistance is Received and Spent, Beware Accelerating Inflation!

It is widely hoped that Lebanon will receive financial assistance on concessional terms for recovery and reconstruction purposes. Recent, perhaps conservative, estimates put the assistance at $12.5 billion ... read more

J.P. Morgan: Lebanese Eurobonds’ Haircut at 70% but Caution Still Warranted

On 4 February 2025, J.P. Morgan issued a report on Lebanon, Lebanon: Politics and stability before economics, in which it indicated that “Lebanon bonds have seen a steep rise following a cease-fire deal ... read more

Capital and Labor Income Shares: Lebanon, 2004-2019

This spotlight is written in memory of Professor Samih Antoine Azar, a remarkable economist and an excellent contributor to the Blog. In his seminal book, Capital in the 21st Century, Thomas Piketty ... read more

GS: Revisiting Lebanon Debt Recovery Values

On December 2nd, 2024 Goldman Sachs published its CEEMEA Economics Analyst Report, Revisiting Lebanon Debt Recovery Values, in which it revisits its previous January 2019 estimates of Lebanese debt ... read more

The Optimal Benchmark “Lollar” Rate

By Invitation: This spotlight was prepared by the late Professor Samih Azar (1956-2023), who passed away on 20/2/2023. Professor Azar was a distinguished economist and a remarkable human being. He was also ... read more

Preliminary Observations on Lebanese Monetary Aggregates and Monetary Policy during the Crisis

Source: BDL; CAS; and Blominvest Bank We start with clarifying the variables in the tables above. CC is currency in circulation; M2 is CC plus LBP deposits; M3 is M2 plus USD deposits; and all in trillion ... read more

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Editors’ Picks