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Economy Of Lebanon
The economy of Lebanon has been experiencing, as of late 2019, a large-scale, multi-dimensional crisis, including a banking collapse, a liquidity crisis and a sovereign default. It is classified as a developing, lower-middle-income economy. The nominal GDP was estimated at $19 billion in 2020, with a per capita GDP amounting to $2,500. In 2018 government spending amounted to $15.9 billion, or 23% of GDP. The economy significantly expanded after the 2006 Lebanon War, with growth averaging 9.1% between 2007 and 2010. After 2011, the local economy was affected by the Syrian civil war, growing by a yearly average of 1.7% on the 2011–2016 period and by 1.5% in 2017. In 2018, the size of the GDP was estimated to be $54.1 billion. Lebanon is the third-highest indebted country in the world in terms of debt-to-GDP ratio. As a consequence, interest payments consumed 48% of domestic government revenues in 2016, thus limiting the government's ability to make needed investments in infra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Beirut Central District
The Beirut Central District (BCD) or ''Centre Ville'' is the historical and geographical core of Beirut, the capital of Lebanon. Also called downtown Beirut, it has been described the “vibrant financial, commercial, and administrative hub of the country.” It is thousands of years old, traditionally a focus of business, finance, culture and leisure. It is situated on the city's northern coast and is easily accessible from all parts of the city. This includes the adjacent Beirut Seaport and Rafik Hariri International Airport. Major roads converge on it or from boundaries to the east, south and west, or line its long seafront to the north. After the city center was destroyed by the Lebanese Civil War, it underwent thorough reconstruction and development, which restored its cultural and economic position in the region. A master plan for reconstructing the city was officially approved by the Lebanese Government in March 1994 after a series of detailed studies alongsid ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Moody's
Moody's Investors Service, often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name. Moody's Investors Service provides international financial research on bonds issued by commercial and government entities. Moody's, along with Standard & Poor's and Fitch Group, is considered one of the Big Three credit rating agencies. It is also included in the Fortune 500 list of 2021. The company ranks the creditworthiness of borrowers using a standardized ratings scale which measures expected investor loss in the event of default. Moody's Investors Service rates debt securities in several bond market segments. These include government, municipal and corporate bonds; managed investments such as money market funds and fixed-income funds; financial institutions including banks and non-bank finance companies; and asset classes in structured finance. In Moody's Investors Servi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
En:Constitution Of Lebanon
The Constitution of Lebanon was adopted on 23 May 1926. Article 11, on the Official National Language, declares that "Arabic is the official national language. A law determines the cases in which the French language may be used." The most recent amendment of the Constitution was for the Charter of Lebanese National Reconciliation (Ta'if Accord), in October, 1989. In an attempt to maintain equality between Christians and Muslims, Article 24 of the constitution mandates the distribution of offices on the basis of Confessionalism as an interim measure, but does not specify how they are to be allocated. (See National Pact.) It does, nevertheless, specify that half the seats shall be given to Christians and half to Muslims. Article 24 in its entirety reads as follows. The constitution describes the flag of Lebanon. The original version of ''Article 5'' read "The Lebanese flag is blue, white, red with a cedar in the white part". A change made on 7 December 1943 indicated that "T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Laissez-faire
''Laissez-faire'' ( ; from french: laissez faire , ) is an economic system in which transactions between private groups of people are free from any form of economic interventionism (such as subsidies) deriving from special interest groups. As a system of thought, ''laissez-faire'' rests on the following axioms: "the individual is the basic unit in society, i.e. the standard of measurement in social calculus; the individual has a natural right to freedom; and the physical order of nature is a harmonious and self-regulating system." Another basic principle of ''laissez-faire'' holds that markets should naturally be competitive, a rule that the early advocates of ''laissez-faire'' always emphasized. With the aims of maximizing freedom by allowing markets to self-regulate, early advocates of ''laissez-faire'' proposed a ''impôt unique'', a tax on land rent (similar to Georgism) to replace all taxes that they saw as damaging welfare by penalizing production. Proponents of ' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reuters
Reuters ( ) is a news agency owned by Thomson Reuters Corporation. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide. Reuters is one of the largest news agencies in the world. The agency was established in London in 1851 by the German-born Paul Reuter. It was acquired by the Thomson Corporation of Canada in 2008 and now makes up the media division of Thomson Reuters. History 19th century Paul Reuter worked at a book-publishing firm in Berlin and was involved in distributing radical pamphlets at the beginning of the Revolutions in 1848. These publications brought much attention to Reuter, who in 1850 developed a prototype news service in Aachen using homing pigeons and electric telegraphy from 1851 on, in order to transmit messages between Brussels and Aachen, in what today is Aachen's Reuters House. Reuter moved to London in 1851 and established a news wire agency at the London Royal Exchange. Headquartered in London, R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debt-to-GDP Ratio
In economics, the debt-to-GDP ratio is the ratio between a country's government debt (measured in units of currency) and its gross domestic product (GDP) (measured in units of currency per year). While it is a "ratio", it is technically measured in units of year, and can be interpreted as the number of years a country needs to pay off its entire debt, if all its GDP is devoted towards it. A low debt-to-GDP ratio indicates that an economy produces goods and services sufficient to pay back debts without incurring further debt. Geopolitical and economic considerations – including interest rates, war, recessions, and other variables – influence the borrowing practices of a nation and the choice to incur further debt. It should not be confused with a deficit-to-GDP ratio, which, for countries running budget deficits, measures a country's annual net fiscal loss in a given year ( total expenditures minus total revenue, or the net change in debt per annum) as a percentage share of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2006 Lebanon War
The 2006 Lebanon War, also called the 2006 Israel–Hezbollah War and known in Lebanon as the July War ( ar, حرب تموز, ''Ḥarb Tammūz'') and in Israel as the Second Lebanon War ( he, מלחמת לבנון השנייה, ''Milhemet Levanon HaShniya''), was a 34-day military conflict in Lebanon, Northern Israel and the Golan Heights. The principal parties were Hezbollah paramilitary forces and the Israel Defense Forces (IDF). The conflict started on 12 July 2006, and continued until a United Nations-brokered ceasefire went into effect in the morning on 14 August 2006, though it formally ended on 8 September 2006 when Israel lifted its naval blockade of Lebanon. Due to unprecedented Iranian military support to Hezbollah before and during the war, some consider it the first round of the Iran–Israel proxy conflict, rather than a continuation of the Arab–Israeli conflict. The conflict was precipitated by the 2006 Hezbollah cross-border raid. On 12 July 2006, Hezboll ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Countries By GDP (nominal) Per Capita
The figures presented here do not take into account differences in the cost of living in different countries, and the results vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency. Such fluctuations change a country's ranking from one year to the next, even though they often make little or no difference to the standard of living of its population. Therefore, these figures should be used with caution. GDP per capita is often considered an indicator of a country's standard of living; however, this is inaccurate because GDP per capita is not a measure of personal income. Comparisons of national income are also frequently made on the basis of purchasing power parity (PPP), to adjust for differences in the cost of living in different countries. (''See'' List of countries by GDP (PPP) per capita.) PPP largely removes the exchange rate problem but not others; it does not reflect the value of economic output in international tra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Countries By GDP (nominal)
Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates. Nominal GDP does not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency. Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference in the standard of living of its population. Comparisons of national wealth are also frequently made on the basis of purchasing power parity (PPP), to adjust for differences in the cost of living in different countries. Other metrics, nominal GDP per capita and a corresponding GDP (PPP) per capita are used for comparing national standard of living. On the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Developing Economy
A developing country is a sovereign state with a lesser developed industrial base and a lower Human Development Index (HDI) relative to other countries. However, this definition is not universally agreed upon. There is also no clear agreement on which countries fit this category. The term low and middle-income country (LMIC) is often used interchangeably but refers only to the economy of the countries. The World Bank classifies the world's economies into four groups, based on gross national income per capita: high, upper-middle, lower-middle, and low income countries. Least developed countries, landlocked developing countries and small island developing states are all sub-groupings of developing countries. Countries on the other end of the spectrum are usually referred to as high-income countries or developed countries. There are controversies over this term's use, which some feel it perpetuates an outdated concept of "us" and "them". In 2015, the World Bank declared that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sovereign Default
A sovereign default is the failure or refusal of the government of a sovereign state to pay back its debt in full when due. Cessation of due payments (or receivables) may either be accompanied by that government's formal declaration that it will not pay (or only partially pay) its debts (repudiation), or it may be unannounced. A credit rating agency will take into account in its gradings capital, interest, extraneous and procedural defaults, and failures to abide by the terms of bonds or other debt instruments. Countries have at times escaped some of the real burden of their debt through inflation. This is not "default" in the usual sense because the debt is honored, albeit with currency of lesser real value. Sometimes governments devalue their currency. This can be done by printing more money to apply toward their own debts, or by ending or altering the convertibility of their currencies into precious metals or foreign currency at fixed rates. Harder to quantify than an inte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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