Lebanon’s gross public debt rises 7.3% y/y to USD 59.2bn at end-May 2013

By bne IntelliNews August 8, 2013

Lebanon’s gross public debt grew 7.3% y/y to LBP 89.22tn (USD 59.2bn) at end-May 2013, virtually the same as the month before, data from the Association of Lebanese Banks showed.

LBP-denominated debt accounted for 56% of the total at LBP 50.11tn and the remaining balance was in foreign currencies. FX-denominated debt increased 22.4% y/y (down 0.5% m/m) at end-May to LBP 39.1tn lifted by the government’s USD 1.1bn USD-denominated Eurobond issue in April.

The FX debt total comprised 90.2% worth of Eurobonds and nearly 5% of multilateral agreements.

The net public debt, which excludes the public sector deposits at the commercial banks and central bank, rose 7.4% y/y to LBP 76.4tn at end-May. Lebanese banks held 49.9% (down from 50.6% in April) of the LBP-denominated debt and the central bank had a 32.3% share. Non-banking sector held 18.0% of the local debt over the period.

Related Articles

Ankara and Tehran join wave of anger directed at Trump’s recognition of Jerusalem as Israel’s capital

US President Donald Trump's December 6 announcement that his administration has decided to unilaterally recognise Jerusalem as Israel's capital was described as “against international law” by ... more

Islamic State is finished declares Iran's President Rouhani

Iranian President Hassan Rouhani on November 21 declared the end of the so-called Islamic State militant and terrorist group following decisive battles in Iraq and Syria. Stating that he wished to ... more

Turkey the loser as Baghdad rewards Iran with control of Kurdish oil exports

Iran is taking control of oil exports from Iraqi Kurdistan's giant Kirkuk field with Baghdad authorising the move as a reward for the Iranians' help in quelling the Kurds' late September push for ... more