Jump to ContentJump to Main Navigation
Foreign Aid for DevelopmentIssues, Challenges, and the New Agenda$
Users without a subscription are not able to see the full content.

George Mavrotas

Print publication date: 2010

Print ISBN-13: 9780199580934

Published to Oxford Scholarship Online: May 2010

DOI: 10.1093/acprof:oso/9780199580934.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 03 December 2020

Foreign Aid and Economic Development in Post‐war Lebanon

Foreign Aid and Economic Development in Post‐war Lebanon

Chapter:
(p.179) 8 Foreign Aid and Economic Development in Post‐war Lebanon
Source:
Foreign Aid for Development
Author(s):

Ghassan Dibeh

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199580934.003.0008

This chapter shows that foreign aid in post-war Lebanon passed through two phases with distinct features that have had far reaching implications for post-war development. In the first phase lasting from 1992-97, foreign aid was mainly channelled towards providing resources for post-war reconstruction projects. The second phase from 1997 to the present witnessed a qualitative shift in foreign aid utilization from reconstruction needs towards financial stability and balance-of-payments equilibrium needs. This shift allowed the government to intervene in the foreign exchange market, maintained balance of payments surpluses during this period, reduced interest rates on public debt instruments and finally provided the necessary liquidity and ‘confidence’ for the government to continue borrowing funds from local commercial banks and foreign investors. More importantly this shift in foreign aid allowed the government to avoid financial and currency crises in 2002. However, the cost of such a qualitative shift was large in terms of fiscal management, diversion of funds from reconstruction, and the increased dependency of the Lebanese economy on foreign aid for stabilization purposes.

Keywords:   foreign aid, post-war reconstruction, post-conflict, Lebanon

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .