Lebanon ranks 122nd in financial health index |
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28 May 2009
BEIRUT: In its 2009 survey on the financial health of 184 countries, The Banker magazine's World Financial Health Index (WFHI) ranked Lebanon in 122nd place among 184 countries around the world and in 14th place among 18 countries in the Middle East and North Africa region, as reported by Lebanon This Week, the economic publication of the Byblos Bank Group.
Lebanon also came in 27th place among 36 upper middle-income countries (UMICs) included in the survey. The WFHI evaluated a country's ability to weather the current financial crisis on the basis of 25 indicators that were divided into four broad categories of Economic Stability, Overall Indebtedness, Financial Sector Stability and Government Finances.
The survey shows that countries with lower levels of borrowing are more insulated from the financial crisis, while developing countries that are less leveraged than developed economies have a lower probability of being affected by a deep credit crunch.
On a global basis, Lebanon ranked ahead of Vietnam, Malta, and Cameroon and came behind Montenegro, Afghanistan and Burkina Faso. It also ranked ahead of Equatorial Guinea, Seychelles and St. Vincent & the Grenadines and came behind Panama, Libya and Mauritius among UMICs. Lebanon received a score of 283.7 points, below the global average of 339.9 points and the UMICs average of 362.7 points, as well as below the MENA average of 368.3 points and the Arab average of 361.8 points. Norway ranked best globally and Zimbabwe came in last place worldwide.
Lebanon came in the 125th place globally, 17th place regionally and 25th place among UMIC countries on the Economic Stability category. It ranked ahead of Cameroon and Portugal and behind Honduras and Malawi on the Economic Stability category. Further, it ranked ahead of South Africa and Lithuania and behind Argentina and Mexico among UMICs, while it came ahead of Israel and Morocco and behind Jordan and the UAE in the region. Lebanon received a score of 90.6 points on this category, below the global average of 102.3 points and the UMICs average of 100.4 points, as well as below the MENA average of 123.8 points.
Also, Lebanon came in the 68th place globally, 6th place regionally and 22nd place among UMIC countries on the Financial Sector Stability category .It ranked ahead of Austria and the United Kingdom, and behind Kazakhstan and Montenegro on. It came ahead of Jamaica and Malaysia and behind Romania and Montenegro among UMICs, and ahead of Iraq and behind Jordan and Algeria in the region. - The Daily Star
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