The EDL building in Beirut, Monday, Sept. 22, 2014. (The Daily Star/Mohammad Azakir)
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Moody's ratings agency said the international aid package to Lebanon agreed at the recent CEDRE conference in Paris will reflect positively on Lebanon because it supports the resumption of public investment and induces officials to implement fiscal reforms as a condition for disbursements.In Paris, delegations from 41 nations committed to an $11 billion aid package on behalf of Lebanon. Moody's said Lebanon needs to improve its efficiency gap even though it is one of the highest among upper middle-income countries.Citing IMF estimates, Moody's said each incremental percentage point of GDP in public investment implies an additional 0.3 percentage point of GDP growth in countries with high efficiency gaps, and an additional 0.6 percentage point in countries with a low efficiency gap.
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