01680cas a2200253 a 4500 AALejournalIMF009780 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451868791 1018-5941 BD-DhAAL BD-DhAAL Schimmelpfennig, Axel. Lebanon-Weathering the Perfect Storms / Axel Schimmelpfennig, E. Gardner. Washington, D.C. : International Monetary Fund, 2008. 1 online resource (38 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper reviews Lebanon's ability to manage financial pressures following severe shocks despite its large public debt overhang and significant external vulnerabilities. Based on interviews with market participants in Beirut and London, the paper concludes that Lebanon's ability to weather what appear to be "perfect storms" derives from three characteristics: a perceived implicit guarantee from donors; Lebanon's track record of having never defaulted on external debt or deposits; and the unique market structure for Lebanese debt which is dominated by local banks and "dedicated" investors and depositors. Mode of access: Internet Gardner, E. IMF Working Papers; Working Paper ; No. 2008/017 Full text available on IMF http://elibrary.imf.org/view/journals/001/2008/017/001.2008.issue-017-en.xml IMF e-Library