Reading Time: 5 minutes The clouds have been forming above Lebanon’s financial sector for years, and now the storm has come with just one silver lining: most of the debt owed to creditors is held by Lebanese. Theoretically, this means that financial institutions and Lebanese bond holders are the ones who need to sit around a financial kitchen table…
Q&A with Nassib Ghobril on Lebanon’s eurobonds
Reading Time: 8 minutes Lebanon is due to make a $1.2 billion principal eurobond payment on March 9, with opinions divided on whether to pay or put in place a plan to restructure the debt. As part of our coverage, Executive spoke via telephone with Nassib Ghobril, chief economist of the Byblos Bank Group, to find out why he…
The case for Lebanon restructuring its debt
Reading Time: 3 minutes Lebanon’s economic vulnerabilities are on full display. Investors and other stakeholders have lost confidence in the Lebanese financial system, triggering an existential economic crisis. In short, Lebanon’s future is jeopardized by three intertwined crises of sustainability with regard to the public debt, the current account deficit, and the financial sector. As such, resolving Lebanon’s crisis…