Lebanese Bonds Sink to Record Lows Amid Concern Over Repayment

As investors count down to Lebanon’s next bond maturity on March 9, a fresh meltdown in the debt market reflects their concern over the government’s solvency, Bloomberg News reported. Many of the crisis-ridden nation’s Eurobonds have slumped to record lows as relief over the formation of a new government last week proved to be short-lived…Lebanon is grappling with its worst economic and political crisis in decades, following months of protests. International reserves can only finance external needs until March 2021 before being depleted, according to Bloomberg Economics, and attempts to secure financial assistance from Gulf allies have so far come up empty. Read more