Lebanon Hires McKinsey to Help Revamp the Economy

Jo

Jo

Administrator
Master Penguin
I'm starting to like this Mireille lady. Initially I was put off by the fact that she was Aoun's daughter n maybe was a bit unfair. Anyway it seems she was behind this initiative. Have a look here:
Yes she was.

You will start hearing her name positively more often in the news
 
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  • spacecreature

    spacecreature

    Well-Known Member
    Yes she was.

    You will start hearing her name positively more often in the news
    I also like her new hairstyle, it inspires trust and professionalism haha ;)
     
    J

    joseph_lubnan

    Legendary Member
    Was this firm retained after a proper bid process? If so, there is nothing wrong with it.

    I did however read they were involved recently in corruption in South Africa.
     
    J

    joseph_lubnan

    Legendary Member
    Yes she was.

    You will start hearing her name positively more often in the news
    She is running for office? :)

    Did they do a proper bid before they awarded this? Or was this also bel-taradi?
     
    J

    joseph_lubnan

    Legendary Member
    I'm starting to like this Mireille lady. Initially I was put off by the fact that she was Aoun's daughter n maybe was a bit unfair. Anyway it seems she was behind this initiative. Have a look here:
    I am sorry, but honestly not very impressed. She isn't bad really, just not that impressive. I also have fatigue of having to hear Aoun family members and extended family members, there are good economists in Lebanon who can and should be better advisors to the president on such issues.

    If she runs for office, I hope she fails. Enough family members already. Please!
     
    light-in-dark

    light-in-dark

    Legendary Member
    I meant countries we could emulate and that resemble somehow Lebanon in their resources / potential , shou jeb Lebanon to Canada masalan which is like a whole continent ;)
    You think Canada is better than Lebanon! The same thing only in Canada more raw materials and less corruption.
    There are a lot of corrupted people also. Hells angels, mafias and crime organizations (militias and Lebanese war lords) function pararely to the the government (political representative and people). Nothing better , this Canadian situation is like the Human lane (5atel Bashar) and the genies lane 5at el Jin) la yaltakiyane. Everyone is working at his own as in every country.
     
    J

    joseph_lubnan

    Legendary Member
    You think Canada is better than Lebanon! The same thing only in Canada more raw materials and less corruption.
    There are a lot of corrupted people also. Hells angels, mafias and crime organizations (militias and Lebanese war lords) function pararely to the the government (political representative and people). Nothing better , this Canadian situation is like the Human lane (5atel Bashar) and the genies lane 5at el Jin) la yaltakiyane. Everyone is working at his own as in every country.
    Lol what a load of BS. Canada is about 500 million times better than Lebanon. Give or take a few millions :)
     
    light-in-dark

    light-in-dark

    Legendary Member
    Lol what a load of BS. Canada is about 500 million times better than Lebanon. Give or take a few millions :)
    Jouzou take this financial report on Canada Fromm financial Paost. What I said is a reality.

    Bank for International Settlements says Canada is showing early warning signs of financial crisis
    Canada has been flagged by a global banking body for 'vulnerabilities' tied to credit, property prices, and the prospect of rising interest rates



    Canada has been flagged by a global banking body for “vulnerabilities” tied to credit, property prices, and the prospect of rising interest rates.
    Barbara Shecter
    Barbara Shecter
    March 6, 2017
    6:54 PM EST
    Last Updated
    March 14, 2017



    Canada has been flagged by a global banking body for “vulnerabilities” tied to credit, property prices, and the prospect of rising interest rates.

    In a quarterly review published Monday, the Bank for International Settlements, or BIS, said Canada is among the jurisdictions showing early warning indicators for financial crises and domestic banking risks.

    The report measures credit and housing prices relative to gross domestic product, and the ability to service debt in the event of rising interest rates.

    Canada’s economy blows away forecasts, but many economists are calling it a ‘fake beat’
    Foreigners are already heavily invested in Canada’s housing market, whether they’re landlords or not
    “Canada, as well as a group of Asian countries, saw increases in the credit gap since September 2016,” the report said. In its fall report, the BIS indicated that Canada had one of the highest credit-to-GDP ratios among developed nations. That report said the country’s “unusually” elevated level posed a threat to the country’s banking system.

    China’s credit to GDP gap remains higher, at 26.3 per cent, according to Monday’s report, but Canada’s 17.4 per cent figure is up from last fall and well above the closely watched BIS threshold of 10 per cent.



    The report notes that two-thirds of banking crises were preceded by credit-to-GDP gaps that breached the 10 per cent threshold during the three years before the event.

    Canada’s relatively large “property price gap” was also noted in Monday’s BIS review.

    Other countries including Germany, some in central and eastern Europe, Greece, Japan, and Portugal were put in the same category, but the BIS said high property price gaps in the latter three countries doesn’t necessarily indicate vulnerabilities because it is being driven by price growth returning to “normal” levels after long periods of decline.

    The report said debt service ratios are at manageable levels for most countries provided there are no changes to interest rates. However, Canada is flagged alongside China and Turkey as countries that face “potential risks” under more stressed conditions that assume a 250 basis point increase in rates.



    The debt service ratio for Canada would jump to 7.9 from 3.6 in such a scenario, according to the BIS report. That’s the second highest among 22 countries measured, lagging only China.

    The global banking body cautioned that its interest rate sensitivity figures are not the result of a “proper stress test,” and noted that a rise in rates would take time to translate into higher debt service demands.

    It is also possible that higher rates would not be fully passed through to consumers, with the degree of pass-through dependent on factors including the share of debt at floating rates, debt maturities, and possible changes in borrowing behaviour, the report said.

    Much of the debate around Canada’s buoyant housing market has centred on the growing amount of Canadian household debt, and questions about the ability of consumers to handle their overall debt burdens if and when interest rates rise from prolonged lows.

    In a year-end review in December, the Bank of Canada highlighted key vulnerabilities to the Canadian financial system, which included elevated household debt, imbalances in the housing market across the country, and fragile fixed-income market liquidity. But the report from Canada’s central bank also said the “household vulnerabilities” would be mitigated over time by new housing finance rules introduced last year.

    The BIS is essentially a bank for central banks around the world. Established in 1930, it serves central banks in their pursuit of monetary and financial stability, and seeks to foster international cooperation in those areas.
     
    The Jade

    The Jade

    Legendary Member
    You think Canada is better than Lebanon! The same thing only in Canada more raw materials and less corruption.
    There are a lot of corrupted people also. Hells angels, mafias and crime organizations (militias and Lebanese war lords) function pararely to the the government (political representative and people). Nothing better , this Canadian situation is like the Human lane (5atel Bashar) and the genies lane 5at el Jin) la yaltakiyane. Everyone is working at his own as in every country.
    I'm not sure if you're joking or you're being dead serious here.

    But let's have a bit of fun, shall we?

    • GPD per capita
      • Lebanon: USD 8,000
      • Canada: USD 42,000
      • So, at least 5 times more
    • Hells angels:
      • They don't control swaths of the country
      • The heaviest weapon they carry is a gun or maybe some an automatic rife
      • They have no tanks, drones, missiles, APC, bombs, etc
      • Their actions don't shape Canada's policy
      • Their actions don't cause wars,thousands of dead and hundreds of thousands of displaced
      • Compared to Hezbollah or other paramilitary factions in Lebanon, they're girl scouts.
    • Mafias in Canada
      • They've been largerly eradicated in Canada.
      • They still have some presence here and there, but their heads are falling one after the other.
    • Mafia and drug cartels in Lebanon
      • They roam around free all over the place
      • They are everywhere, including in the government
      • The state doesn't have the balls/strength to take them on
    • HDI index:
      • Canada: 10th
      • Lebanon 76th
    • Economic freedom:
      • Canada: 7th (Mostly free)
      • Lebanon 137th (Mostly unfree) - We are in a pool with Burundi, Mauritania, Tajikistan, Uzbekistan, etc)
    • Corruption Perception Index (Transparency International)
      • Canada: 9th
      • Lebanon: 136th (we were beaten by Togo, Mali, Egypt, Liberia, etc)
    • Global Competitiveness:
      • Canada: 14th
      • Lebanon: 105th
    • Best Countries overall (poll by US News)
      • Canada: 2nd
      • Lebanon: 76th
    • Public debt to GDP ratio:
      • Canada: 31%
      • Lebanon: 152%
    • Quality of life:
      • Canada: 1st
      • Lebanon 78th
    • How many canadians do you see rushing to emigrate to Lebanon?
    • How many Lebanese do you see rushing to emigrate to Canada

    Canada may or may not soon pass through a financial crisis.
    But at least the state will be there to support its people, the country won't collapse and won't be begging for money.
    There is no nothing wrong in a country going through a few crisis here and there.
    We've been in a continuous crisis since the 1960s.
    Lebanese are going in droves to Canada, hundreds of thousands of people in the world are knocking at Canada's doors.
    How many are doing it to come to Lebanon,

    I can't believe I had to write all this to "prove" that Canada's better than Lebanon....
    Still think Canada is not better than Lebanon?
     
    Tsunami27

    Tsunami27

    Well-Known Member
    Was this firm retained after a proper bid process? If so, there is nothing wrong with it.

    I did however read they were involved recently in corruption in South Africa.
    Valid point. Bas 1.4 Mn for a McK 6 month engagement with such a scope is a bargain ya abou l zouz. I would say they are charging much lower than their typical margins
     
    J

    joseph_lubnan

    Legendary Member
    Valid point. Bas 1.4 Mn for a McK 6 month engagement with such a scope is a bargain ya abou l zouz. I would say they are charging much lower than their typical margins
    I think a bidding process can tell us better if it is a bargain or not. It is also the right way to do it.

    Why do you think they are charging less, charity? :)
     
    J

    joseph_lubnan

    Legendary Member
    I'm not sure if you're joking or you're being dead serious here.

    But let's have a bit of fun, shall we?

    • GPD per capita
      • Lebanon: USD 8,000
      • Canada: USD 42,000
      • So, at least 5 times more
    • Hells angels:
      • They don't control swaths of the country
      • The heaviest weapon they carry is a gun or maybe some an automatic rife
      • They have no tanks, drones, missiles, APC, bombs, etc
      • Their actions don't shape Canada's policy
      • Their actions don't cause wars,thousands of dead and hundreds of thousands of displaced
      • Compared to Hezbollah or other paramilitary factions in Lebanon, they're girl scouts.
    • Mafias in Canada
      • They've been largerly eradicated in Canada.
      • They still have some presence here and there, but their heads are falling one after the other.
    • Mafia and drug cartels in Lebanon
      • They roam around free all over the place
      • They are everywhere, including in the government
      • The state doesn't have the balls/strength to take them on
    • HDI index:
      • Canada: 10th
      • Lebanon 76th
    • Economic freedom:
      • Canada: 7th (Mostly free)
      • Lebanon 137th (Mostly unfree) - We are in a pool with Burundi, Mauritania, Tajikistan, Uzbekistan, etc)
    • Corruption Perception Index (Transparency International)
      • Canada: 9th
      • Lebanon: 136th (we were beaten by Togo, Mali, Egypt, Liberia, etc)
    • Global Competitiveness:
      • Canada: 14th
      • Lebanon: 105th
    • Best Countries overall (poll by US News)
      • Canada: 2nd
      • Lebanon: 76th
    • Public debt to GDP ratio:
      • Canada: 31%
      • Lebanon: 152%
    • Quality of life:
      • Canada: 1st
      • Lebanon 78th
    • How many canadians do you see rushing to emigrate to Lebanon?
    • How many Lebanese do you see rushing to emigrate to Canada

    Canada may or may not soon pass through a financial crisis.
    But at least the state will be there to support its people, the country won't collapse and won't be begging for money.
    There is no nothing wrong in a country going through a few crisis here and there.
    We've been in a continuous crisis since the 1960s.
    Lebanese are going in droves to Canada, hundreds of thousands of people in the world are knocking at Canada's doors.
    How many are doing it to come to Lebanon,

    I can't believe I had to write all this to "prove" that Canada's better than Lebanon....
    Still think Canada is not better than Lebanon?
    Man you must have some free time on your hands lately :)
     
    Tsunami27

    Tsunami27

    Well-Known Member
    I think a bidding process can tell us better if it is a bargain or not. It is also the right way to do it.

    Why do you think they are charging less, charity? :)
    Pro bono, venturing into a new market, potential after sales...
     
    Nonan

    Nonan

    Legendary Member
    Orange Room Supporter
    Valid point. Bas 1.4 Mn for a McK 6 month engagement with such a scope is a bargain ya abou l zouz. I would say they are charging much lower than their typical margins
    A bargain if you there is any value that would come from it. A team of an engagement manager + 2 is typically 150$k per week so this is less than half. Having said that, any public sector entity in the world has to go through a bidding process to award a contract. Maybe BCG would not have been cheaper but maybe the quality of their insights would have been better. Either way, the process is a great way to stress test the consultant’s approach and gain more knowledge / insights do not doing it is a missed opportunity (independent of the outcome)
     
    !Aoune32

    !Aoune32

    Well-Known Member
    What about we look first at investing and helping our people in agriculture??? Have proper infrastructure for roads and public transport?? Have electricity 24/7?? Water supply so people dont have to buy bottled water?? Proper sewerage not ones from 1920.... maybe so the toilet paper can actually be placed into the toilet not a rubbish bin.
     
    !Aoune32

    !Aoune32

    Well-Known Member
    I'm not sure if you're joking or you're being dead serious here.

    But let's have a bit of fun, shall we?

    • GPD per capita
      • Lebanon: USD 8,000
      • Canada: USD 42,000
      • So, at least 5 times more
    • Hells angels:
      • They don't control swaths of the country
      • The heaviest weapon they carry is a gun or maybe some an automatic rife
      • They have no tanks, drones, missiles, APC, bombs, etc
      • Their actions don't shape Canada's policy
      • Their actions don't cause wars,thousands of dead and hundreds of thousands of displaced
      • Compared to Hezbollah or other paramilitary factions in Lebanon, they're girl scouts.
    • Mafias in Canada
      • They've been largerly eradicated in Canada.
      • They still have some presence here and there, but their heads are falling one after the other.
    • Mafia and drug cartels in Lebanon
      • They roam around free all over the place
      • They are everywhere, including in the government
      • The state doesn't have the balls/strength to take them on
    • HDI index:
      • Canada: 10th
      • Lebanon 76th
    • Economic freedom:
      • Canada: 7th (Mostly free)
      • Lebanon 137th (Mostly unfree) - We are in a pool with Burundi, Mauritania, Tajikistan, Uzbekistan, etc)
    • Corruption Perception Index (Transparency International)
      • Canada: 9th
      • Lebanon: 136th (we were beaten by Togo, Mali, Egypt, Liberia, etc)
    • Global Competitiveness:
      • Canada: 14th
      • Lebanon: 105th
    • Best Countries overall (poll by US News)
      • Canada: 2nd
      • Lebanon: 76th
    • Public debt to GDP ratio:
      • Canada: 31%
      • Lebanon: 152%
    • Quality of life:
      • Canada: 1st
      • Lebanon 78th
    • How many canadians do you see rushing to emigrate to Lebanon?
    • How many Lebanese do you see rushing to emigrate to Canada

    Canada may or may not soon pass through a financial crisis.
    But at least the state will be there to support its people, the country won't collapse and won't be begging for money.
    There is no nothing wrong in a country going through a few crisis here and there.
    We've been in a continuous crisis since the 1960s.
    Lebanese are going in droves to Canada, hundreds of thousands of people in the world are knocking at Canada's doors.
    How many are doing it to come to Lebanon,

    I can't believe I had to write all this to "prove" that Canada's better than Lebanon....
    Still think Canada is not better than Lebanon?
    Is the person you replying to LVV2??? :D
     
    !Aoune32

    !Aoune32

    Well-Known Member
    Most probably!
    Looks like they're twins
    Instead of getting some company to ramp up the economy what about we look at agriculture??? Infrastructure?? Water?? Electricity??
    Lebanese want to build Syria 2al with what?? Apples which now are imported from Jordan as the people houne dont want to work in that field??
     
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