Government to refinance maturing debt

MoF seeks to swap $950 million worth of treasury bonds maturing in August

July 18, 2011- The Ministry of Finance is seeking proposals for swapping of $950 million worth of foreign currency treasury bonds, maturing in August. The Association of Banks in Lebanon (ABL) has circulated the Ministry’s decision among its members.

According to figures published by the Ministry, gross public debt stood at $52.59 billion, by the end of Q1 2011, a 0.02 percent decrease compared to end-2010.

Figures showed that 60.3 percent of the total public debt is lira denominated. The share of private banks of lira denominated debt exceeds 53 percent, while that of the Central Bank amount to 30.5 percent, and that of the non-banking sector is 16.4 percent.