Qatar’s announcement that it would buy up $500mn in Lebanese government bonds was the only ‘positive’ headline to come out of the tumultuous Arab League economic summit in Beirut last week, but even that break in the clouds was fleeting. Just hours later on 21 January, ratings agency Moody’s provided Lebanon’s embattled economy with yet another blow, downgrading its sovereign rating to Caa1 – seven notches below ‘junk’ status – and...
Lebanon: Two Steps Back
Published on Fri, 25 Jan 2019 - Volume: 62 Issue: 04Print
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