Occasional Papers

Back to the Future: Postwar Reconstruction and Stabilization in Lebanon

Author/Editor:

Thomas Helbling ; Sena Eken

Publication Date:

June 18, 1999

Summary:

Following the 15-year civil war that started in 1975, Lebanon's government began the difficult task of economic stabilization and confidence building, on the one hand, and postwar reconstruction and development, on the other. The government led the reconstruction effort by formulating programs that aimed to rapidly rehabilitate the country's severly damaged infrastructure in preparation for private-sector-led growth over the medium term. At the same time, Lebanon introduced an exchange-rate-based nominal anchor policy to stabilize expectations and cut inflation. This paper analyzes the government's progress with the policies adopted.

Series:

Occasional Paper No. 1999/005

Subject:

Expenditure Financial institutions Government debt management Public debt Public financial management (PFM) Revenue administration Treasury bills and bonds