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
Finance Minister Mohammad Safadi said Lebanon plans to raise $2 billion in Eurobonds this year after borrowing costs of the most indebted Arab country dropped to a record. “We are now talking to the financial markets to get their advice on when is the best time”
By Ghassan Karam
The campaign to portray the Lebanese Finance Minister as a person who has taken charge of the Lebanese economy is an ongoing one.
By Emma Cosgrove
In early December, Finance Minister Raya Hassan announced that Lebanon had successfully issued $500 million in Eurobonds in an effort to refinance the country’s staggering public debt.