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New GCF strategy could unlock frozen funds globally

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INTERNATIONAL

Outlook for the Green Climate Fund.

Lebanon’s economy has further to fall

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LEBANON

The central bank has struggled to address a deep financial crisis that, exacerbated by COVID-19, has impoverished a whole population. In addition to complex exchange controls, it…

Lebanon’s debt-based model is ultimately unsustainable

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LEBANON

The insurance costs for Lebanon’s sovereign bonds rose rapidly in September, reflecting both general unease among investors in emerging markets and specific concerns about…

Beirut will need IMF support, despite political costs

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LEBANON

This followed the government’s decision to default, for the first time ever, on bonds maturing on March 9. There is a mounting controversy over whether to seek financial support…

Beirut faces a massive challenge on aid and reform

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LEBANON

The government has drawn up a detailed document setting out the gravity of the country’s economic plight and requesting over 10 billion dollars of additional aid from the IMF and…

Even if politicians deal, Lebanon faces a bleak future

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LEBANON

The audit and wider structural economic reforms are preconditions for urgently needed foreign aid. Economic conditions in Lebanon are still worsening, with power cuts, food…

Lebanon risks hyperinflation and forced dollarisation

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LEBANON

It highlighted how the severe, three-year crisis has been deepened by “a failure to take much needed policy action” and “resistance from vested interests to reforms”. It also…

Prospects for the Levant in 2021

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PROSPECTS 2021

However, in 2021 they will all face two common challenges: recovering from major economic shocks in 2020 and reorienting to US policy shifts under a Biden presidency. From…

Beirut may miss out on brighter growth prospects

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LEBANON

The wage scale law was cast into question when a contentious tax hike law intended to fund it was annulled by the Constitutional Council on September 22, partly on the grounds…

Saudi privatisation will privilege state interests

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SAUDI ARABIA

Riyadh’s privatisation plans.