In this paper, the author, Jean Tawile dissects the root causes of the Lebanese crisis and suggests a new economic model to draw a path towards change.
He believes that Lebanon’s crisis was initially caused by a system of cronyism that has existed since the end of the civil war (1975-1990). He elaborates and stresses on the fact that the entire economy is controlled by elite political actors who wield their power over public institutions to provision their allies, family members, and networks.
Jean does not stop with the diagnosis, but proposes a new economic model that addresses economic uncertainty at the macro level. He provides a road map to regain control of the spiraling monetary situation, to return the central bank and private sector banks to a state of solvency, and to transition the economy over the medium term to a more competitive and equitable model.
