Executive summary: Lebanon signed the Euro-Med agreement in June 2002. The agreement transcends traditional trade agreements to include peace, stability, democracy, and mutual understanding. Within 12 years, Lebanon and the European Union (EU) will enjoy the benefits of free trade, with Lebanon having a five-year grace period and receiving technical assistance to support the implementation of the agreement... view more details

Executive summary: Over recent decades, there has been an increased incidence of financial crises around the world. In just the past twenty years, more than two-thirds of emerging countries have experienced one or more financial crises. Many have had severe economic consequences in terms of lost output and employment and even a return to poverty in some cases. These developments have given increased impetus to the search for solutions and to learning from recent experiences. In each of the affected countries, policymakers faced the dual challenge of managing the crisis while also developing institutional reforms to create a more stable financial system. In some cases, they were particularly successful. In others, however, the adopted reforms were a complete failure due either to bad understanding of the crises or to inappropriate policy responses. ... view more details

Executive summary: The euro currency was introduced in January 1999 at an exchange rate of 1.167 to the US dollar. It started its appreciation vis-a-vis the USD in December 2002 to reach 1.256 per USD by the end of 2003, the period under consideration in this study. ... view more details

Executive summary: The July 2006 War dealt a severe blow to Lebanon's fragile economy, just as it was recovering from a year-long slump. The war delayed plans for reform and caused major losses to the economy. It affected every aspect of the country's economy and the livelihoods of hundreds of thousands of citizens. The war resulted in a severe shock to Lebanon's monetary and fiscal situation, and it brought about a loss of investor confidence. The repercussions of the war are likely to be felt for a long time to come.... view more details