Middle East Economic Survey
BUDGETS AND REVENUES
Lebanese Leaders Disagree About Debt Restructuring
A political squabble is brewing between Lebanese President Emile Lahoud and Prime Minister Rafiq al-Hariri over the restructuring of the countrys mounting debt of some $32bn. Mr Lahoud believes in the need to swap the high-interest existing debt maturing in 2005 and 2006 of some $7bn (including interest payments) in Eurobonds with new issues of low-interest debt, before...