Current Account in Lebanon

Lebanon Current Account | Economic News & Forecasts

Lebanon - Current Account

The economy is crumbling, with the private-sector PMI falling to a record low in April amid lower output and new orders. The lockdown, which has been extended until 24 May, is hampering domestic activity even though some restrictions have now been lifted, while a recent flare-up of protests is further hurting confidence and political stability. Currency chaos is inflicting further damage: While the pound is still pegged to the dollar at LBP 1,507.5 per USD for essential imports, the parallel rate has plummeted in the last few months, crushing local purchasing power. Moreover, the Central Bank has been limiting access to dollars as parts of gradual efforts to dismantle the peg, generating further uncertainty. In politics, at end-April the government published a rescue plan and announced it was aiming for an IMF bailout, which will be vital to restore economic and financial stability.

Lebanon - Current Account Data

2015   2016   2017   2018   2019  
Current Account (% of GDP)-17.1  -20.4  -22.7  -23.6  -     

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Lebanon Current Account Chart

Lebanon Current Account
Note: Current account balance as % of GDP.
Source: IMF.

Lebanon Facts

Value Change Date
Exchange Rate1,5130.0 %Dec 31

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