Current Account in Lebanon
Lebanon - Current Account
The economic panorama darkened in early March after the government defaulted on a USD 1.2 billion debt repayment—the first default in the country’s history—further depressing business sentiment. The government announced it was attempting to restructure its public debt and recently met with IMF officials; however, it has yet to formally request a Fund bailout package, which seems necessary to stabilize the public finances. This comes against a dismal economic backdrop. According to the Central Bank’s Coincident Indicator, economic activity contracted sharply in Q4. Moreover, in January and February, business conditions in the private sector worsened markedly according to the PMI—amid lower output, new orders, new exports and employment—while surging inflation continues to corrode consumers’ purchasing power.Lebanon - Current Account Data
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Current Account (% of GDP) | -24.0 | -17.1 | -20.4 | -22.7 | -23.6 |
Lebanon Current Account Chart
Source: IMF.
Lebanon Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 1,513 | 0.0 % | Dec 31 |
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