What is it about?
The research explores the dilemma the Lebanese government has been confronting in dealing with its debt and fiscal deficit. The study demonstrates that the authority harnessed their financial resources to serving public debt at the cost of economic stability and growth. Also, the study sheds light on the strategies of reducing gross financing needs, and on the government’s strategies to engineer its public debt. Had the government disciplined itself, negotiated a better deal with resident lenders, the economy could have done much better.
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Why is it important?
This research is among the first that provides a theoretical, analytical, and empirical explanation to the current financial and economic crisis in Lebanon. It summarizes the public debt dilemma, the conduct of fiscal and monetary policies, structural reforms, and public debt restructuring. The work provided can be used as a reference for policymakers to reformulate the fiscal and monetary policies and to restructure the public debt. It also helps the country to negotiate better deals with nonresident lenders, and it proposes strategies for dealing with the resident lenders, or the banking sector.
Perspectives
It gives me great pleasure to learn that this research helps to rebuild the economy of Lebanon and the Lebanese people. The paper is self-funded and self-motivated; I wrote it because I felt the moral obligation to contribute to the growth and prosperity of my home country Lebanon.
Dr. Kassim M. Dakhlallah
Read the Original
This page is a summary of: Public debt and fiscal sustainability: the cyclically adjusted balance in the case of Lebanon, Middle East Development Journal, June 2020, Taylor & Francis,
DOI: 10.1080/17938120.2020.1773076.
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