Lebanon: Use of Fund Resources: Request for Emergency Post-Conflict Assistance: Staff Report; and Press Release on the Executive Board Discussion

Author: International Monetary Fund

Volume/Issue: Volume 2007 Issue 177

Publication date: May 2007

ISBN: 9781451822717

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Topics covered in this book

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Banks and Banking , Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , reform program , Banque du Liban , debt , net , Emergency Post-Conflict Assistance , IMF's support , objectives of the IMF , private sector , debt reduction objective , Government debt management , Currencies , Commercial banks , Middle East , Global

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Summary

This report reviews the Emergency Post-Conflict Assistance (EPCA) given to Lebanon after the conflict with Israel in 2006. The five-week conflict with Israel in 2006 and the month-long blockade that followed inflicted a heavy human and economic toll on Lebanon. EPCA would provide an appropriate transition to 2008, when fiscal adjustment is envisaged to commence. The authorities intend to seek IMF support through a Stand-By Arrangement (SBA), following satisfactory implementation of the EPCA program and after the immediate impact of the conflict has been addressed and the current political stalemate resolved.