Banks hold 54 percent of public debt. Treasury can meet Eurobond maturities

Banks hold 54
percent of public debt
Treasury can meet Eurobond maturities
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The State’s current resources are enough to meet future maturities of Eurobonds, said Joseph Torbey, Chairman of the Association of Banks in Lebanon (ABL). The scheduling of these maturities is convenient and comfortable for the country, he said.

Local banks hold 70 percent of the Government’s Eurobond portfolio and 54 percent of the public debt in local and foreign currencies, according to Torbey. There were two Eurobond issues last year, for a combined value of $3.8 billion and with maturities ranging between ten and 20 years. Local banks have subscribed to a large part of these bonds, he said.
Reported by Shikrallah Nakhoul
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Date Posted: Feb 19, 2016