Financial and Banking News
BUDGETS AND REVENUES
Lebanese Public Borrowing Approaches Ceiling
Faced with a persistent shortfall of revenue from traditional sources and a banking sector increasingly unwilling to absorb more treasury bills, the Lebanese Government has during the past three months resorted to massive borrowing from the Banque du Liban (Central Bank), and as a result the growth of its debt has outstripped expectations and is rapidly approaching its legal ceiling. According to...