Inflation ( CCPI)1.7% (June 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.55%
12M T-Bill Rate10.07%
2Y T-Bond Rate10.55%/ 10.65%
4Y T-Bond Rate11.80% / 11.85%
USD/LKR303/304
Reserves $5.6Bn (June 2024)
Cum. Trade Deficit $2,180 Mn (May 2024 cumulative)
Cum. Fiscal DeficitLKR 361Bn (April 2024)

Lebanon to Default EuroBond of Dollar 1.2 Bn

Global IndexesMar 15, 2020
Lebanon to Default EuroBond of Dollar 1.2 Bn
Lebanon is to miss a $1.2 Bn Eurobond payment and seek talks with creditors to restructure its entire $90 Bn debt pile. This is the first default in the country’s history. Foreign currency reserves have reached a critical and dangerous level. The ratio of debt to the gross domestic product had reached 170%. Lebanese dollar bonds have since lost half of their value. Bank limits on access to dollars have led to a parallel currency market that’s pricing a devaluation of more than 40% for the Lebanese pound, which has been pegged to the dollar at the same rate since 1997. This is a long-expected and not related to the economic turmoil caused by the coronavirus outbreak. But it comes at a time when the global financial system is on edge.

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