ECONOMY

Lebanon has ‘no intention of touching value’ of bonds, says finance minister

Lebanon's Caretaker Finance Minister Ali Hassan Khalil. (Reuters)

Lebanon’s finance minister said on Friday there was “absolutely no intention of touching the value of Lebanese bonds”, following a Bloomberg report that quoted him saying a fiscal reform plan being prepared included a debt rescheduling.

Asked whether a haircut was under consideration, Ali Hassan Khalil told Reuters: “There is absolutely no intention of touching the value of Lebanese bonds or taking a percentage of them.

“The proposals are an operation to organize and manage the debt and to move ahead with reform measures that reduce the burden of it.”

SEE ALSO: Lebanon prepares plan to restructure public debt

Dollar bonds tumble for second day

Meanwhile, Lebanon’s dollar-denominated bonds suffered a second day of hefty falls with many issues trading at record lows.

The 2025 bond dropped 5.25 cents to a fresh record low of 73.50 cents in the dollar.

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Last Update: Friday, 11 January 2019 KSA 21:17 - GMT 18:17
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