Marwan Kheireddine is a businessman, former political figure, and advocate for technology-driven transformation in Lebanon's banking sector. With expertise in digital banking, cybersecurity, and financial inclusion, he envisions an innovative and inclusive future for Lebanon's financial landscape.

1. Reviving Lebanon's
Economy: Key Initiatives
and Policy Shifts

2. Lebanon, once known as the "Switzerland of the Middle East," has been
facing a severe economic crisis for several years, including a deteriorating
economic situation, a banking sector collapse, political instability, and the
devastating explosion in Beirut in 2020. These challenges have left the
Lebanese economy in shambles, with soaring inflation, a depreciating
currency, and unemployment rates at alarming levels. “However, there is
hope on the horizon as the government and international partners are
implementing key initiatives and policy shifts to revive Lebanon's
economy”, believes Marwan Kheireddine.

3. Lebanon's economic crisis is characterized by hyperinflation, a collapsing currency, skyrocketing
unemployment, and a severe financial crisis in the banking sector. The Lebanese pound has depreciated
significantly, eroding the savings of ordinary citizens and making basic goods unaffordable for many. This
crisis has triggered widespread protests, reflecting the public's frustration and the urgent need for change. To
resuscitate Lebanon's economy, a multi-pronged approach is essential, and the government, along with
international partners, has initiated several key measures and policy shifts. Lebanon has received substantial
financial support from international organizations and countries, such as the International Monetary Fund
(IMF), the World Bank, and France, in the form of grants and loans. These funds are crucial in stabilizing the
country's financial system and implementing vital reforms. “The government has initiated a plan to
restructure the banking sector, including recapitalization and the introduction of more transparent and
equitable policies”, explains Marwan Kheireddine. He adds that these reforms aim to regain the trust of
depositors and rebuild a solid financial foundation. In his expert opinion, one of the most pressing issues in
Lebanon has been the rapid depreciation of the Lebanese pound. The Central Bank, in coordination with the
government, is taking measures to stabilize the exchange rate and reduce inflation. This includes adjusting
monetary policies and promoting a more flexible exchange rate system. “To address rampant corruption, the
government is implementing anti-corruption initiatives, such as increased transparency in public
procurement, enforcing stricter financial regulations, and holding accountable those involved in corrupt
practices”, adds Marwan Kheireddine.

4. Lebanon's electricity sector has been plagued by inefficiency and
mismanagement. The government is working on comprehensive reforms to the
energy sector, including reducing subsidies, improving infrastructure, and
fostering a competitive environment for energy providers. “To attract foreign
investments and spur economic growth, Lebanon is simplifying its investment
policies and procedures. Special economic zones are being established to
provide incentives to potential investors and businesses”, explains Marwan
Kheireddine. He believes that Lebanon's workforce is highly educated and
skilled. To harness this potential, the government is focusing on improving the
education system and vocational training programs. This will ensure that the
Lebanese labor force can meet the demands of a rapidly evolving job market.
Lebanon is emphasizing sustainable development in its recovery plans. This
includes initiatives to address environmental issues, such as waste
management, water scarcity, and

5. green energy, to create a more sustainable and resilient economy. In a time of
economic hardship, it's crucial to ensure the welfare of the most vulnerable,
therefore, social safety nets, such as targeted cash assistance and food support
programs, are being implemented to alleviate the suffering of those most affected
by the crisis. Moreover, Marwan Kheireddine encourages public-private
partnerships to attract foreign investments that are vital to rebuilding the
economy. Special economic zones and investment-friendly policies are being
introduced to entice businesses and investors. Lebanon is facing significant
economic challenges, but the government's commitment to reform, along with
international support, offers a glimmer of hope for the country's economic
recovery. The key initiatives and policy shifts mentioned above represent a critical
step in the right direction.

6. Reviving Lebanon's economy is an arduous journey that requires not only
political will but also the active engagement of the international community. The
people of Lebanon have shown immense resilience, and they yearn for a brighter
future. The measures and initiatives in place are promising signs of progress, but
the road ahead is long and challenging. Lebanon's recovery must be rooted in
transparency, good governance, and the protection of the rights and well-being
of its citizens. “The world is watching and stands ready to assist Lebanon in its
quest for economic revival. If these efforts are sustained and built upon, there is
hope that Lebanon can once again rise from the ashes and regain its place as a
vibrant and prosperous nation in the Middle East”, concludes Marwan
Kheireddine.