$404 million in investment guarantees since 2007

Dhaman: Lebanon is the fourth highest source
of guarantees in region over past five years

Lebanon was the fourth top source for investment guarantees and export securitizations issued by the Arab Investment and Export Credit Guarantee Corporation (Dhaman) in the past five years.

According to data compiled by the Kuwait-based underwriter, the value of investment guarantees and export securitizations issued for Lebanon between 2007 and 2011 totaled $404 million, eight percent of the total issued by Dhaman. Out of 17 Arab countries, the top three sources for investment guarantees and exports securitizations were Saudi Arabia, Kuwait, and Tunisia, valued at $1.5 billion, $1.3 billion, and $427 million, respectively.

Lebanon, however, was the 15th destination for investment guarantees and exports securitizations, ahead of Oman and Mauritania. Investments and imports entering the country under the guarantee of Dhaman totaled around $100 million over the past five years. The top three destinations were Sudan, Syria, and the UAE, at $800 million, $428 million, and $387 million, respectively.

At end-2011, the value of outstanding guarantees destined for Lebanon stood at $2.5 million, out of a total of $357 million guarantees destined for the Arab region.

Reported by Hanadi Chami