Lebanon 'years away' from realising benefits of potential oil and gas finds

Lebanon's hopes of benefiting from potential oil and gas reserves in the Levant Basin are years away, as the country must navigate various challenges including a volatile geopolitical landscape and a deeply sectarian political system, analysts have warned. Additionally, even if oil and gas are found, the quantity discovered may not be worth a major investment, and the country's economic crisis and high levels of debt must first be addressed.

thenationalnews.com

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9/15/2023

IMF: Lebanon Still Faces Major Economic Hurdles 4 Years After Crisis Began

Lebanon continues to face enormous economic challenges, including a collapsed banking sector, eroding public services, deteriorating infrastructure, and worsening poverty, according to the International Monetary Fund (IMF). The IMF called for comprehensive policy decisions to address the country's external and fiscal deficits, as well as the restructuring of the banking sector and state-owned companies. Lebanon's political class has been resistant to implementing economic and financial reforms, despite ongoing talks with the IMF.