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19-05-19
Lebanon to slash USD660m from debt servicing costs
(MENAFN) Lebanon's Finance Minister Ali Hassan Khalil announced that the government is planning to reduce its debt servicing costs by USD660 million in the draft state budget for this year.
This goal, according to the finance minister, will be achieving by releasing treasury bonds at 1 percent of interest rate.
Khalil explained: "this matter will happen through coordination between the finance ministry, the central bank and the banks after the budget approval to issue treasury bonds in Lebanese currency in the range of 11,000 billion Lebanese pounds at an interest rate of 1 percent."
Ahead of this statement, he disclosed the amount planned to be cut from the state budget with no more information on the matter.
MENAFN1905201900450000ID1098540062
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