Economic Digest

Short analyses about Lebanon’s latest economic indicators, updated on a monthly basis

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The Lebanese Sayrafa FX Market: A Diagrammatic Analysis

Diagram (1) Diagram (2) On August 1st 2023, as the term of BDL Governor Salameh expired, BDL (through the Acting Governor along ... read more

Aline Azzi
Economic Digest
August 18, 2023

Was it a good idea to eliminate Sayrafa?

Riad Salameh’s 30 year tenure just came to an end on July 31st 2023. At first, it was very unclear who was going to replace the central bank Governor as the government kept failing to elect a successor. ... read more

Aline Azzi
Economic Digest
August 18, 2023

BDL Acting Governor: BDL Liquid FX Reserve Assets at $8.573 Billion

A statement issued on 17/8/2023 by Acting BDL Governor, Dr Wassim Mansouri, claimed that BDL liquid FX reserve assets stood at $8.573 billion at end July 2023. The distribution of assets is as follows: ... read more

Construction Permits Down Yearly by 47.33% to 5,973 by July 2023

According to the data from the Orders of Engineers in Beirut and Tripoli, the total construction permits witnessed a year-on-year (YOY) remarkable decrease of 47.33% to reach 5,973 permits by July ... read more

Aline Azzi
Economic Digest
August 16, 2023

A&M BDL’s Audit Report: FX Reserves Spent and Cost of Financial Engineering:

The preliminary Forensic Audit Report of BDL by Alvarez and Marsal Middle East was released by the Ministry of Finance last week. We will focus in this economic digest on two points raised by the report: ... read more

Aline Azzi
Economic Digest
August 14, 2023

Balance of Payments Surplus at $1.14B by June 2023, compared to a deficit of $2.57B by June 2022

According to BDL’s latest monetary report, the BOP recorded a surplus of $1.14B by June 2023, far exceeding the deficit over the same period last year of $2.57B. Accordingly, Net foreign Assets (NFAs) of ... read more

Lebanese Commercial Banks’ Total Assets Down Year on Year by 31.88% to $116.43B by June 2023

According to Lebanon’s consolidated commercial banks’ balance sheet, total assets decreased annually by 31.88% to stand at $116.43B by June 2023 amid BDL’s adoption of a new exchange rate of LBP 15,000 per ... read more

Lebanese Commercial Banks: Recent Organizational Statistics

Lebanese banks have long been pillars of the country’s financial system, contributing significantly to its economic growth and stability. However, since the onset of the crisis in 2019, the banking ... read more

Did BDL USD Reserve Liabilities Contribute Badly to the Crisis?

Trillion LBP Dec 2001 Dec 2009 Dec 2015 Dec 2018 Required Reserves RR: 9.2 22.2 35.4 40.3 RR in USD 6.5 13.9 22.2 27.6 Total Reserves TR 10.5 53.2 106.3 196.2 Excess Reserves ER 1.3 31.0 70.9 155.9 ... read more

IMF: Global Economy On Track But Not Yet Out of the Woods

In its latest World Economic Outlook of July 2023, the International Monetary Fund (IMF) stated that global economy would continue to gradually recover from the pandemic and Russia’s invasion of Ukraine. ... read more

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Economic Digest