Google Play’s current supported locations for merchant accounts:
http://support.google.com/googleplay/android-developer/answer/150324?hl=en
Be careful when creating you merchant account, because once you set your location you will not be able to revert it back. Plus you need to check if there is any specific settings/limitation for the country you choose to have your bank account in. For Example: If you managed to have a bank account in the US and you do not have a Tax ID you will be limited to 500$ per month payment. I don't know about other countries merchant/Tax ID settings, but just remember if you set the location to a country and want to change it, you will have to create another email account and pay for a new developer account.
You can also use alternative markets allowing paid apps from Lebanon.