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Mon, 20 Jan 2020 11:46 GMT

Lebanese Gov't Says Maturing Eurobond to Be Paid on Time


7Dnews London

Sat, 09 Nov 2019 19:54 GMT

Lebanese caretaker Finance Minister Ali Hassan Khalil on Saturday November 9th affirmed committing to paying its maturing treasury bonds in foreign currency on the predetermined time, Reuters reported.

"This commitment is confirmed," Khalil said, adding that the government, however, would delay issuing a $2 billion-treasury bond in foreign currency, which was set to be issued by the end of November.

Salim Sfeir, the head of the Association of Banks in Lebanon, on Saturday assured Lebanese depositors, saying that their money is safe, apparently denying rumors of liquidity problems and economic difficulties faced by banks, Reuters reported.

Sfeir said that the issue is unrelated to solvency, so "no need for panic."

Middle East