Turning the Lights on in Lebanon
Date(s) - 06/24/2019
6:00 pm - 8:00 pm
The Cornell Club New York
NEW YORK, NEW YORK
Lebanon is on the brink of a government default on sovereign debt, a crisis perpetuated by the country’s national budget crisis. Electricity is responsible of around 45% of the Lebanon’s deficit and debt and the government of Lebanon continues to pump money in the failed national electricity company.
But today Atlas Network partner Lebanese Institute for Market Studies (LIMS) is celebrating a big win that will have an effect on millions of Lebanese citizens. On April 8, 2019 the Lebanese government amended their laws in order to allow private companies into electricity production. The government is now resolved to rely on private independent power producers for all future generation projects and this amendment provides the legal framework.
Three years ago, when LIMS suggested allowing private generation of electricity, it was not an idea that was taken seriously. Today, private production of electricity became a reality thanks to LIMS’s well-structured advocacy campaign.
Join Atlas Network for a reception on Monday, June 24 featuring Patrick Mardini, President of the Lebanese Institute for Market Studies. This event is part of our Global Policy Perspectives event series. The dress is business casual; drinks and hors d’oeuvres will be served.
Dr. Patrick Mardini is the president and founder of the Lebanese Institute for Market Studies – LIMS, the first market oriented think-tank in Lebanon. LIMS works with government officials and members of parliament on designing specific policy reforms to address current challenges facing Lebanon. Under his watch, the institute was rewarded the prize of best policy paper in the MENA region at the First Arab Liberty Festival in 2014 and the best emerging think tank in the Mena region at the Arab Liberty Festival in 2015.
Dr. Mardini is currently working with a team of experts on solutions to electricity outages and losses in Lebanon, water pollution, traffic, schools, etc. The challenge is to improve the service without increasing government expenditure and fiscal deficit. He is considered an expert on the limits of government intervention in a sectarian society and the importance of the free market in bringing peace. He is often interviewed by TVs, radios, and newspapers on economic issues related to Lebanon and invited to lecture in Africa, Asia, Europe, North America and the Middle East.
He holds a Ph.D. in Economics from Paris Dauphine University and postdoctoral research from John Hopkins University. He worked on the role of monetary policy in producing financial crises and economic recessions and explored alternative systems such as free banking and currency board. Dr. Mardini published several papers in academic journals. His past employment includes four years at the Paris mutual fund Modèles & Stratégies.
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