VOL. XLV

No 3

21-January-2002

LEBANON

Banque Du Liban Suspends TradingOn Secondary Treasury Bill Market

In the first week of January,Lebanon痴 central bank, Banque du Liban, suspended trading on the secondarymarket for treasury bills. Its decision to cease these operations stems fromthe relatively large differential between primary and secondary yields and theextra financing burden this places on the central bank痴 current portfolio oftreasury bills, which is thought to amount to over LL6,000bn...