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Lebanon considers issuing dollar bond this month -central bank - ASHARQ AL-AWSAT English Archive
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KUWAIT, (Reuters) – The Lebanese government may issue a dollar-denominated sovereign bond this month, the country’s central bank governor said on Monday.

“The government and the ministry of finance are thinking of going to the market again, maybe in October, with an issue of the Republic of Lebanon in dollars,” Riad Salameh said on the sidelines of a meeting of Arab central bankers in Kuwait.

He would not comment on details of the possible bond issue, saying it was up to the government to announce it.

Asked about growth prospects for the economy, which has been hit by the conflict in neighbouring Syria and domestic political tensions, Salameh said: “This year, the forecast stands around 2 percent, maybe a little bit more, but less than 3 percent.”

“Last year was around 3 percent”, he said, based on estimates by the central bank and the International Monetary Fund.

That figure is much less than the previous government’s estimate of 5.2 percent.

Lebanon’s economic growth ground to a halt in the first half of 2011 following a government collapse and affected by the early stages of the uprising in Syria.

The government previously issued dollar bonds in March, including $600 million due 2017, paying 5 percent, and the addition of $350 million to a previous issue of 2026 bonds, paying 6.375 percent.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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