Middle East Economic Survey

VOL. XLVII

No 43

25-October-2004

CAPITAL MARKETS

Lebanon Offers To Swap $2Bn In Treasury Bills

Lebanese Finance Minister Fuad Siniora announced on 19 October that his government would swap over LL3,000bn ($2bn) in Treasury bills (in local currency) maturing between 21 October and 30 November for new short-term paper with higher yields. The swap consists of the issue on 21 October of six-month and one-year Treasury bills which will carry an additional yield of 0.5% and 1%...