{"id":1404,"date":"2006-08-05T08:50:18","date_gmt":"2006-08-05T08:50:18","guid":{"rendered":"http:\/\/amrani.cc\/wp\/?p=1404"},"modified":"2006-08-05T08:50:18","modified_gmt":"2006-08-05T08:50:18","slug":"2006-8-5-economic-losses-in-lebanon-html","status":"publish","type":"post","link":"http:\/\/amrani.cc\/wp\/?p=1404","title":{"rendered":"Economic losses in Lebanon"},"content":{"rendered":"
The Neue Z\u00c3\u00bcrcher Zeitung\u00e2\u20ac\u2122s excellent Cairo correspondent Kristina Bergmann today writes on the economic losses<\/a> to Lebanon as a result of the current war.<\/p>\n

She refers to a report by Lebanon\u00e2\u20ac\u2122s state-run Council for Development and Reconstruction (CDR) which argues that today\u00e2\u20ac\u2122s losses are much more substantial then those the country suffered during its civil war as the Israeli air-force has systematically targeted Lebanon\u00e2\u20ac\u2122s infrastructure, while the civil war was characterized by small-scale wars between different groups. CDR puts losses at $2.5bn, while damages to infrastructure have reached $785mn, according to CDR.<\/p>\n

I\u00e2\u20ac\u2122m also translating some paragraphs of Bergmann\u00e2\u20ac\u2122s article:<\/p>\n

When Siniora became Prime Minister in June 2005, public debt stood at $36bn and the trade deficit reached $2bn. Lebanon\u00e2\u20ac\u2122s new government realized that reform was inevitable. A plan \u00e2\u20ac\u0153revival of the economy\u00e2\u20ac\ufffd was drafted. It aimed at privatizing the state\u00e2\u20ac\u2122s power station and its telecom, at raising taxes and at increasing control over funds \u00e2\u20ac\u201c more precisely: the fight against corruption. With the beginning of the war, the plan was without further ado dubbed \u00e2\u20ac\u0153plan for reconstruction\u00e2\u20ac\ufffd. Translated, this meant that corruption in trade in industry will flourish again, Lebanon\u00e2\u20ac\u2122s former Minister of Finance Georges Corm recently said.<\/p>\n

When in fall 2001 Arab capital feared being frozen in the US, Lebanon became the favourite place for Arab financiers. Now, however, Golf Arabs are withdrawing their money discreetly but very quickly. To where will they transfer their capital which has been increased by the explosion of oil prices? One destination are \u00e2\u20ac\u0153stable\u00e2\u20ac\ufffd and economically open countries of the region such as Egypt, Morocco and Turkey, financial experts say. Is this arguably the reason, why those countries are reluctant in criticising Israel\u00e2\u20ac\u2122s campaign?<\/p><\/blockquote>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Neue Z\u00c3\u00bcrcher Zeitung\u00e2\u20ac\u2122s excellent Cairo correspondent Kristina Bergmann today writes on the economic losses<\/a> to Lebanon as a result of the current war.
\nShe refers to a report by Lebanon\u00e2\u20ac\u2122s state-run Council for Development and Reconstruction (CDR) which argues that today\u00e2\u20ac\u2122s losses are much more substantial then those the country suffered during its civil war as the Israeli air-force has systematically targeted Lebanon\u00e2\u20ac\u2122s infrastructure, while the civil war was characterized by small-scale wars between different groups. CDR puts losses at $2.5bn, while damages to infrastructure have reached $785mn, according to CDR.
\nI\u00e2\u20ac\u2122m also translating some paragraphs of Bergmann\u00e2\u20ac\u2122s article:<\/p>\n

When Siniora became Prime Minister in June 2005, public debt stood at $36bn and the trade deficit reached $2bn. Lebanon\u00e2\u20ac\u2122s new government realized that reform was inevitable. A plan \u00e2\u20ac\u0153revival of the economy\u00e2\u20ac\ufffd was drafted. It aimed at privatizing the state\u00e2\u20ac\u2122s power station and its telecom, at raising taxes and at increasing control over funds \u00e2\u20ac\u201c more precisely: the fight against corruption. With the beginning of the war, the plan was without further ado dubbed \u00e2\u20ac\u0153plan for reconstruction\u00e2\u20ac\ufffd. Translated, this meant that corruption in trade in industry will flourish again, Lebanon\u00e2\u20ac\u2122s former Minister of Finance Georges Corm recently said.
\nWhen in fall 2001 Arab capital feared being frozen in the US, Lebanon became the favourite place for Arab financiers. Now, however, Golf Arabs are withdrawing their money discreetly but very quickly. To where will they transfer their capital which has been increased by the explosion of oil prices? One destination are \u00e2\u20ac\u0153stable\u00e2\u20ac\ufffd and economically open countries of the region such as Egypt, Morocco and Turkey, financial experts say. Is this arguably the reason, why those countries are reluctant in criticising Israel\u00e2\u20ac\u2122s campaign?<\/p><\/blockquote>\n<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[82,30],"_links":{"self":[{"href":"http:\/\/amrani.cc\/wp\/index.php?rest_route=\/wp\/v2\/posts\/1404"}],"collection":[{"href":"http:\/\/amrani.cc\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/amrani.cc\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/amrani.cc\/wp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/amrani.cc\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1404"}],"version-history":[{"count":0,"href":"http:\/\/amrani.cc\/wp\/index.php?rest_route=\/wp\/v2\/posts\/1404\/revisions"}],"wp:attachment":[{"href":"http:\/\/amrani.cc\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/amrani.cc\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1404"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/amrani.cc\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}