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

Iraq holds talks with Excelerate Energy on buying first LNG from US

Iraq is in the final stages of negotiating its first-ever purchase of LNG supplies as power outages hamper the Middle East country, Bloomberg reported on June 26. Dallas-headquartered Excelerate ... more

Reformist Kamil al-Tayeb Idris appointed as Sudan’s new Prime Minister

Sudan’s Sovereign Council head, Abdel Fattah al-Burhan, issued a constitutional decree on May 19 appointing Kamil al-Tayeb Idris as the new prime minister, Al Sharq Al Awsat reported. He also ... more

Egypt examines LNG supply offers from Saudi Aramco, UAE’s Adnoc, Algeria’s Sonatrach, and QatarEnergy

Egypt's state-owned gas company EGAS has received several offers to supply liquefied natural gas (LNG) shipments urgently needed for summer, Al Sharq reported on May 18, citing an unnamed government ... more

Dismiss