Lebanon’s finances struggle to keep afloat Lebanon will issue $500 million dollars in Eurobonds in the coming weeks in order to service its existing debt, according to Finance Minister Mohammad Chatah. In regards to public debt, the minster also stated that, “If we are at 150 to 152 percent by the end of the year, we should aim at a continued drop in that ratio… it should be possible to aim at yet another significant drop.” According to figures from the Ministry of Finance, the country’s public debt in June stood at 153 percent of GDP, representing a monetary value of $47.3 billion. This, however, stands in contrast to a European Union Commission report — issued as part of the EU’s “Neighborhood Policy” — which stated that mismanagement of government spending has caused Lebanon’s debt to climb to 160 percent of GDP, with interest on that debt amounting to two
