Economics
Lebanon’s Eurobond Sale Deemed Unlikely at Current Market Rates
- Minister says government needs $7 billion for the rest of 2019
- Lebanon on reform path to unlock billions in loans and grants
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Lebanon’s government is unlikely to tap international bond markets at current market rates, an official said, days after the indebted country’s finance minister announced plans for a sale of up to $2 billion in November.
The official spoke on condition of anonymity because the information isn’t public. The government has to find 11 trillion Lebanese pounds ($7.3 billion) to repay debt, including $1.65 billion in the coming four months, though some of it could be financed through new local-currency bonds, according to Finance Minister Ali Hasan Khalil.