VOL. XLIV

No 32

6-August-2001

LEBANON

Confidence In Lebanons Debt Service Capacity Falters,Eurobond Ratings Downgraded

Confidence in Lebanons abilityto avoid default on either its domestic or international debt is beginning tofade as the countrys debt burden grows while reform measures continue toappear inadequate and tardy, despite the successful issuance (andover-subscription) of yet another Lebanese eurobond (MEES, 9 July). TheLebanese Ministry of Finance announced on 26 July that it had...