Lebanese banks in Syria have lost 400m during crisis

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Lebanese banks in Syria have lost 400 million dollars during the 20-month-old crisis in Syria, central bank chief Riad Salameh told Reuters on Friday.

Salameh said that the government is also planning to exchange 1.5 billion dollars of Eurobond debt when it matures in 2013 and said that a Beirut stock exchange IPO would be ready in “one or two years.”

He said the government was also issuing new Eurobonds.

“The Lebanese government is currently issuing between 1.5 and 2 billion dollars of new Eurobonds. Proceeds will be used by the government for budgetary purposes,” he said, without giving a detailed time frame.
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