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  "documentTitle": "Lebanon Economic Vision",
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      "text": "The Banque du Liban however, has over the years, beard much of the burden stemming from the economic and fiscal policies of the country, by operating as \"policy maker of last resort\"",
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      "text": "The Banque du Liban has historically played a key role in preserving the country’s stability through supporting the currency peg and prudential policies. Due to the large currency devaluation and following fluctuations witnessed post-war the currency was pegged to the USD since 1997. The BdL maintains the fixed exchange rate, purchases government debt, keeps interest rates steady at moderate levels, maintains high gross international reserves, provides economic stimulus, and addresses weak banks. Several crises have tested the monetary system and proved that it constitutes a bedrock of stability for the country.",
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      "text": "The Banque du Liban however, has over the years, beard much of the burden stemming from the economic and fiscal policies of the country, by operating as “policy maker of last resort”. Sustained fiscal and balance of payments deficit, coupled with a decrease in deposits growth in recent years, has led to a decrease in the Central Bank’s foreign reserves by ~10% between July 2015 and May 2016 to reach 34.6 USD Bn. Extraordinary financial engineering operations were conducted to attract fresh foreign currency into the country, and increase the Central Bank’s foreign reserves back to ~40 USD Bn in August 2016.",
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      "text": "Source: IMF Article IV Lebanon; Banque Du Liban; IMF Financial System Stability Assessment Lebanon",
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      "text": "A. Performance measures, drivers & enablers",
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