Moody’s says Lebanon likely to delay debt

MENAFN) Lebanon is expected to be forced to delay its debt, even though it already imposed steps to cut its deficit in this year’s state budget, as Moody’s suggested.

Rating agency Moody’s affirmed: “Lebanon may have to reschedule its debt due to the slowdown of capital flows to the country and the decline in deposits growth.”

Governor of the Central Bank Riad Salameh declared earlier that the deposit base posted a USD3 billion drop amid positivity of achieving further funds over solid interest rates.

Finance Minister Ali Hassan Khalil also assured that the Lebanon is well handling its financial situation.

Leave a Reply

Your email address will not be published. Required fields are marked *