Arab Today, arab today lebanon to issue 10year tbills at 85 interest
Last Updated : GMT 10:30:18
Arab Today, arab today
Arab Today, arab today

Lebanon to issue 10-year T-bills at 8.5% interest

Arab Today, arab today

Arab Today, arab today Lebanon to issue 10-year T-bills at 8.5% interest

Beirut - Arabstoday

The Finance Ministry is expected to issue 10-year treasury bills in Lebanese denominated currency with 8.25 percent interest and another issue in Eurobonds in October of this year. Al-Markazia news agency said Central Bank Governor Riad Salameh notified the Association of Banks in Lebanon about the two new issues during its last monthly meeting. Sources said the subscription in the 10-year bonds was just one of a series of steps taken by the Central Bank to raise the interest to more than 8 percent. They added that most Lebanese banks have refrained from subscribing to the short- and medium-term T-bills because the yields on them are too small and therefore not very appealing to investors and lenders. The average yield on T-bills is around 5-6 percent. The government and the Central Bank have lowered the interest rates on T-bills in line with those on the international markets. The drop in interest rates has also allowed the Finance Ministry to reduce the cost of debt servicing, and thus the budget deficit has become more manageable. Bankers are expected to snap up most of the new issue because the yield is too tempting to resist. However, the sources did not disclose the value of the 10-year bond. Sources added that the Finance Ministry had no intention of asking banks to market the new issue. Successive governments have been tapping the local and international markets to finance the public debt, which now stands at around $55 billion. Lebanese commercial banks held around LL25.129 trillion up to July of this year after dropping to LL24.849 trillion at the end of 2011. The Eurobonds held by Lebanese banks up to July of this year totaled $12.67 billion. Economists and international investment banks expect the Lebanese Cabinet to resort to more borrowing to finance the controversial salary scale that will cost the treasury more than $1 billion a year. Most ministers do not support Finance Minister Mohammad Safadi’s plan to raise the value added tax from 10 percent to 12 percent and hike taxes on interest on deposits from 5 percent to 7 percent. For this reason, the Cabinet may be compelled to borrow more from the market, although it realizes that this measure would negatively impact the budget deficit. (daily star)

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today lebanon to issue 10year tbills at 85 interest Arab Today, arab today lebanon to issue 10year tbills at 85 interest

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 05:20 2017 Thursday ,23 February

WTO ratifies first multilateral trade deal

GMT 21:36 2017 Wednesday ,22 February

Opec needs to prolong cuts to eliminate surplus

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday