Economics
Lebanon Eyes Voluntary Swap of March Eurobond Into New Debt
- Central bank’s Salameh said the plan would need banks’ consent
- It may pave the way for a similar measure involving foreigners
Residential and commercial property surround the blue dome of Mohammad Al-Amin Mosque in Beirut.
Photographer: Hasan Shaaban/BloombergThis article is for subscribers only.
Lebanon’s central bank wants local holders of a $1.2 billion sovereign Eurobond maturing in March to swap into new notes as part of an effort to manage the country’s debt crisis.
“We are making preemptive proposals that are voluntary” and dependent on the consent of Lebanese banks, Governor Riad Salameh said in an interview in Beirut. “We haven’t taken any decision yet because we don’t have a government.”