Options with eurobonds
Lebanon studying its options on Eurobonds, finance option mirror says By Reuters Staff 3 Min Read BEIRUT Reuters - Lebanon is studying options for dealing with its forthcoming Eurobond maturities, including whether to pay the debt, the finance minister said on Thursday after meeting with the president and central bank governor.
Sources familiar with the matter told Reuters on Wednesday the mood in government was leaning toward negotiating a restructuring of the debt. Related Coverage Lebanon's president asks cabinet options with eurobonds start drafting budget A decision should be taken by the end of the month but may come sooner, Information Minister Manal Abdel Samad said after a cabinet meeting.
The financial crisis, worse than any Lebanon endured in its civil war, erupted last year as slowing capital inflows led to a liquidity crunch and protests erupted against the ruling elite. The Lebanese pound has lost more than a third of its value. The rates apply on deposits made or renewed from Feb.
The new government, which won a vote of confidence in parliament this week, has urged banks to slice interest rates to spur economic activity and ease the strain on the public finances.