Middle East & North Africa Economics

Middle East Economics Update

7 November, 2017

Lebanon’s dollar peg under threat as tensions mount

The deterioration in relations between Lebanon and Saudi Arabia in recent days has raised fresh concerns over the sustainability of Lebanon’s dollar peg. While the country has substantial FX reserves, these would be quickly eroded in the event of severe crisis, forcing the authorities to devalue the pound. This could ultimately create problems for the government in servicing its large foreign currency debt.

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