Lebanon

Lebanon's Commitment to Financial Stability: Aiming to Restore Confidence for IMF Aid

1 month ago

In a transformative move to address its crippling financial crisis, the Lebanese government has pledged to fully restore the funds of depositors, a promise that marks a significant step towards unlocking crucial reforms and attracting International Monetary Fund (IMF) assistance. This announcement comes during a period of intense economic struggle for Lebanon, where inflation has soared and public trust in the banking system has dwindled.

Amundi Champions ESG Principles in Upcoming Lebanon Debt Restructuring

2 months ago

In a significant development for Lebanon’s financial future, Amundi, Europe’s largest asset manager, has made clear its intent to advocate for the integration of Environmental, Social, and Governance (ESG) principles in the nation’s impending debt restructuring efforts. This move illustrates the growing recognition of ESG factors as crucial elements in the management of financial and credit risks, particularly in developing economies like Lebanon, where financial stability remains precarious.

Hedge Fund and Private Equity Leaders Compete for Lebanon's Top Monetary Post

2 months ago

As Lebanon grapples with a severe economic crisis, the race to appoint a new governor for the Central Bank of Lebanon is heating up. With the deadline for nominations approaching, several prominent candidates from hedge funds and private equity backgrounds have emerged as contenders for this crucial role. This appointment is not just a matter of monetary policy but also a pivotal step in restoring confidence in Lebanon’s battered financial system.

BlackRock’s Bisat Takes Helm as Lebanon’s Economy Minister Amidst Financial Turmoil

3 months ago

In a significant political move, Lebanon has appointed renowned money manager and former BlackRock executive, Ali Bisat, as the new Minister of Economy and Trade. This decision comes in the wake of severe economic challenges that the country has been grappling with for the past few years, including an unprecedented financial crisis that has led to a collapse of the national currency and widespread poverty.

Lebanon Prepares for Presidential Elections Amid Regional Turmoil Following Israel-Hezbollah Conflict

4 months ago

In the wake of escalating tensions and recent military confrontations between Israel and Hezbollah, Lebanon stands on the brink of significant political change as it gears up for presidential elections. This critical event is poised to take place in a turbulent environment shaped by the ongoing conflict which has exacerbated political divisions and economic instability within the country.

Citigroup Relocates Employees Amid Escalating Conflict in Lebanon

7 months ago

In response to the escalating violence and unrest in Lebanon, Citigroup has initiated the relocation of selected staff from the region. The decision comes as hostilities continue to rise, impacting both the safety of employees and the stability of operations in the area.

Economic Impact of Israel-Lebanon Strikes: Assessing Hezbollah's Toll on Lebanon

7 months ago

In the wake of ongoing military operations between Israel and Hezbollah, Lebanon finds itself grappling with a staggering financial burden estimated at $20 billion. This figure stems from the extensive damage and disruptions caused by the strikes, initiated amid heightened tensions in the region. The conflict has had reverberating effects on Lebanon’s already fragile economy, which has been struggling with political instability and a severe financial crisis for years.