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Standard & Poor’s: Lebanon’s rating downgraded to CCC / C due to growing financial and monetary risk

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  2. Standard & Poor’s: Lebanon’s rating downgraded to CCC / C due to growing financial and monetary risk

17 Nov 2019

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Standard & Poor’s: Lebanon’s rating downgraded to CCC / C due to growing financial and monetary risk

She added that the outlook for Lebanon is negative, pointing out that this reflects the danger related to the creditworthiness of Lebanon due to the increasing financial and monetary pressures associated with the widespread protests witnessed in this country recently and the resignation of the government.

Lebanon has been overwhelmed by protests stemming in part from the worst economic crisis since the 1975-1990 civil war, shutting banks, crippling Lebanon and limiting the ability of many importers to buy goods from abroad.

Hariri resigned as prime minister on October 29 in the face of protests against the ruling political elite blamed for rampant government corruption.

Lebanese Foreign Minister Gebran Bassil said on Friday that former finance minister Mohamed Safadi had agreed to take over as prime minister if he won the backing of key political forces.

Standard & Poor’s pointed to a decline in confidence in Lebanon’s governance and economy, which has stopped the flow of bank deposits. It said the Lebanese government would need external donor support or a major domestic reform package to continue its public government debt

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Technical Economic Consulting Company was established in 2012, it was established by a team of investment professionals to become one of the leading investment companies to provide the best management consulting services to local international companies and institutions. Since its inception, the company has continuously expanded to become one of the largest leading consulting firms in the region through its branches located in the Arab world as well as representative offices in Europe.

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