Lebanon today : Wednesday March 20 Top news



Here are the top stories for Lebanon today:

Time is running out for Lebanon

Lebanese sovereign spread widens 8 times more than EM peers since Feb. low

Time is running out for Lebanon,  as Bond backlash shows. Lebanon’s dollar bonds due 2028 have declined almost daily in the last three weeks, sending the yield to near its highest since Jan. 30, the day before the cabinet was formed.

Lebanon’s debt risk, measured by credit default swaps, has climbed by over 100 basis points since the end of February, staying above 700 basis points during the past two weeks.The few weeks of government inaction all but wiped out a bond rally fueled by  Qatar
Donors who pledged $11 billion last year to improve Lebanon’s infrastructure need to be convinced of its commitment to implement reforms. Nothing has been done so far by the new government  all we hear about  daily is the infighting between the various factions in the disunited cabinet.

What is president Aoun up to in Moscow

aoun-bassilPresident Michel Aoun reportedly decided that only  his son-in-law Foreign Minister Jebran Bassil would accompany him on his first official visit to Russia on March 26, MTV reported

“Aoun’s picking of Bassil exclusively and the decision not to form a delegation as per custom might be linked to the intention of the president and the foreign minister to keep their discussions with the Russian officials under wraps,” MTV added

MTV sources said this could be linked to the  presidential race, in which” Moscow will certainly be a key player.”

Usually the president is accompanied by a  huge delegation whenever he travels on official trips oversease