VOL. XL

No. 48

1-December-1997

LEBANON

Lebanon To Borrow $2Bn In Foreign Currency

In its attempt to deal with the ever-widening budget deficit, Lebanon is to borrow some$2bn in foreign currency rather than continue borrowing internally by issuing treasurybills denominated in the local currency. The speaker of the Lebanese Parliament, Mr. NabihBerri, announced on 25 November that the Lebanese Government will be given a mandate toraise $1.6bn through Eurobond issues and to borrow a further $400mn...