News
Latest News
news bulletin
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
28
o
Bekaa
28
o
Keserwan
29
o
Metn
29
o
Mount Lebanon
26
o
North
30
o
South
27
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Nightly News Bulletin
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
28
o
Bekaa
28
o
Keserwan
29
o
Metn
29
o
Mount Lebanon
26
o
North
30
o
South
27
o
News
Programs
The News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Series
Movies
Documentaries
Variety
Comedy
Talk Show
News Bulletin
Sports
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
Before and after: How did Lebanon's economic history shift with the outbreak of the civil war
News Bulletin Reports
17-09-2023 | 11:11
High views
Share
Share
3
min
Before and after: How did Lebanon's economic history shift with the outbreak of the civil war
Once considered an economic beacon in the Middle East, Lebanon had a different financial landscape before the devastating civil war.
Let us take a recent look back at the country's economic history, which reveals a stark contrast between its past prosperity and the challenges it faces today.
In 1972, Lebanon had a surprising financial connection to India. An agreement was signed for a loan issued by the Mashreq Bank in favor of the State Bank of India, totaling LBP 15 million, over five years (December 12, 1972).
Yes, in Lebanese lira!
At the time, many Lebanese officials viewed this as a step towards international engagement while using their national currency.
Furthermore, Lebanon owed debts to the World Bank, a global institution that offers loans and grants to countries worldwide. Lebanon, which is now seeking assistance from the World Bank in various areas to address its ongoing crises, was once among the countries providing aid.
In early 1973, Lebanese banks raised funds to offer a loan to the World Bank, totaling LBP 75 million. This move was considered to strengthen the Lebanese lira and increase its demand.
During those times, Lebanon's financial stability was evident as it extended its financial reach even to Canada.
In 1972, Canadian authorities expressed their willingness to borrow from Lebanon in Lebanese lira (October 28, 1972). This was the situation before 1975.
The Lebanese lira was once considered reliable and robust, and the country had financial discipline and did not need any loans.
However, everything changed after the outbreak of the civil war as political party leaders took control, leading to corruption, accumulating debt, and financial turmoil.
The country's economic situation deteriorated further, leading to the approval of budgets with significant deficits, a development that some considered an achievement.
In contrast, countries like Germany and Japan, which faced comprehensive destruction during World War II, managed to rebuild their economies into global powerhouses through visionary long-term planning.
Lebanon News
Lebanon Economy
News Bulletin Reports
Before
After
Lebanon
Economic
History
Shift
Outbreak
Civil
War
Next
Details emerge: Israel strikes building in Beirut's southern suburbs, marking second attack in days
Recommended For You
d-none hideMe
0
News Bulletin Reports
13:16
Billions needed, but no plan: Lebanon’s social spending crisis deepens
News Bulletin Reports
13:16
Billions needed, but no plan: Lebanon’s social spending crisis deepens
0
News Bulletin Reports
13:10
From diplomacy to disaster: Netanyahu’s trip derailed by Gaza ambush
News Bulletin Reports
13:10
From diplomacy to disaster: Netanyahu’s trip derailed by Gaza ambush
0
News Bulletin Reports
13:04
US envoy’s cautious tone reflects Lebanon’s mixed response to US proposal—The details
News Bulletin Reports
13:04
US envoy’s cautious tone reflects Lebanon’s mixed response to US proposal—The details
0
News Bulletin Reports
2025-07-07
High stakes in Doha: Gaza ceasefire and hostage deal talks begin amid Israeli divisions
News Bulletin Reports
2025-07-07
High stakes in Doha: Gaza ceasefire and hostage deal talks begin amid Israeli divisions
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
Lebanon News
2025-04-17
Israeli army claims targeting Hezbollah infrastructure in South Lebanon
Lebanon News
2025-04-17
Israeli army claims targeting Hezbollah infrastructure in South Lebanon
0
Middle East News
2025-04-26
Iran-US nuclear talks 'may be extended': Iranian state media
Middle East News
2025-04-26
Iran-US nuclear talks 'may be extended': Iranian state media
0
Lebanon News
2025-04-26
Lebanon's president and first lady meet world leaders during Pope Francis' funeral
Lebanon News
2025-04-26
Lebanon's president and first lady meet world leaders during Pope Francis' funeral
0
News Bulletin Reports
2025-04-17
Weapons or war: Hezbollah pressed to disarm as Israel hits key targets
News Bulletin Reports
2025-04-17
Weapons or war: Hezbollah pressed to disarm as Israel hits key targets
Videos
d-none hideMe
0
Lebanon News
2025-07-01
Massive fire erupts at unregulated dumpsite in Bchannine, Zgharta district
Lebanon News
2025-07-01
Massive fire erupts at unregulated dumpsite in Bchannine, Zgharta district
0
Lebanon News
2025-06-10
Clash between Lebanese Army and residents of Deir Qanoun Al Nahr results in injuries (Video)
Lebanon News
2025-06-10
Clash between Lebanese Army and residents of Deir Qanoun Al Nahr results in injuries (Video)
0
Lebanon News
2025-06-04
Mexico dedicates garden around Lebanese Emigrant Statue in Beirut to mark 80 years of diplomatic ties
Lebanon News
2025-06-04
Mexico dedicates garden around Lebanese Emigrant Statue in Beirut to mark 80 years of diplomatic ties
0
Lebanon News
2025-05-19
President Aoun to seek Egyptian support for Lebanese Army in detecting explosives and tunnels
Lebanon News
2025-05-19
President Aoun to seek Egyptian support for Lebanese Army in detecting explosives and tunnels
0
Lebanon News
2025-05-15
LBCI Exclusive: US steps up pressure on Hezbollah, Morgan Ortagus details sanctions and vision for Lebanon's future
Lebanon News
2025-05-15
LBCI Exclusive: US steps up pressure on Hezbollah, Morgan Ortagus details sanctions and vision for Lebanon's future
0
Lebanon News
2025-05-11
Kuwait rolls out official welcome for Lebanon's President Aoun – video
Lebanon News
2025-05-11
Kuwait rolls out official welcome for Lebanon's President Aoun – video
0
Lebanon News
2025-05-11
Security incidents temporarily disrupt voting in several Akkar and Minieh-Danniyeh centers
Lebanon News
2025-05-11
Security incidents temporarily disrupt voting in several Akkar and Minieh-Danniyeh centers
0
News Bulletin Reports
2025-05-09
EU ambassador says 'we are not just donors, but genuine partners to Lebanon': Insights from exclusive LBCI interview
News Bulletin Reports
2025-05-09
EU ambassador says 'we are not just donors, but genuine partners to Lebanon': Insights from exclusive LBCI interview
0
Lebanon News
2025-04-23
US envoy Morgan Ortagus hails Lebanese diaspora, says country stands at a crossroads
Lebanon News
2025-04-23
US envoy Morgan Ortagus hails Lebanese diaspora, says country stands at a crossroads
Most read
d-none hideMe
24 hours
7 days
Month
1
Lebanon News
05:26
Israel's army claims it killed Radwan Force commander, Hezbollah member in south Lebanon strikes
Lebanon News
05:26
Israel's army claims it killed Radwan Force commander, Hezbollah member in south Lebanon strikes
2
Lebanon News
08:32
Tune in for exclusive LBCI interview with US envoy Tom Barrack
Lebanon News
08:32
Tune in for exclusive LBCI interview with US envoy Tom Barrack
3
Lebanon News
05:40
Army chief meets US envoy Tom Barrack, discusses Lebanon and regional developments
Lebanon News
05:40
Army chief meets US envoy Tom Barrack, discusses Lebanon and regional developments
4
Lebanon News
10:18
Israel military claims struck Hamas militant in north Lebanon
Lebanon News
10:18
Israel military claims struck Hamas militant in north Lebanon
5
Lebanon News
03:59
Lebanese Army arrests suspect after Beirut armed appearance
Lebanon News
03:59
Lebanese Army arrests suspect after Beirut armed appearance
6
Lebanon News
04:10
Lebanon's health minister approves full medical coverage for Beirut blast victims
Lebanon News
04:10
Lebanon's health minister approves full medical coverage for Beirut blast victims
7
Middle East News
14:07
Iran says death toll from war with Israel reaches 1,060: State TV
Middle East News
14:07
Iran says death toll from war with Israel reaches 1,060: State TV
8
Lebanon News
04:52
UAE firm delegation meets President Aoun, expresses interest in investing in Lebanon
Lebanon News
04:52
UAE firm delegation meets President Aoun, expresses interest in investing in Lebanon
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More