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1. Default
Lebanon needs to substantially reduce its gross public debt, which stands around $85 billion; with ongoing political and economic stagnation, it can neither grow nor inflate out of the problem. Restructuring is the only option.
External debt is estimated at about 190% of GDP in 2018, according to the IMF’s most recent Article IV report. Of this, 77% is non-resident deposits with maturities of less than one year, while government debt accounts for 10% of external debt, of which roughly a third is held by foreign investors.
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