Challenges Loom for Lebanon's Debt Amid Global Interest Rate Surge
Lebanon's central bank cautioned that rising global interest rates could hinder the country's eurobond debt restructuring, despite growth in liquid foreign reserves. The bank's Macroeconomic Review revealed a projected increase in gold reserves to $30.28 billion by mid-2025, driven by higher gold prices.
- Country:
- Lebanon
Lebanon's central bank issued a warning on Friday about the complications posed by elevated global interest rates to the nation's efforts in restructuring its eurobond debt. Despite these challenges, the bank highlighted an increase in its liquid foreign currency reserves, which have reached $11.3 billion.
The forecast was shared in a Macroeconomic Review disseminated to the media. The report included a positive note on the value of the central bank's gold reserves, which are expected to rise to $30.28 billion by mid-2025 as a result of higher gold prices.
The central bank's remarks underline the financial complexities faced by Lebanon as it navigates both international economic pressures and domestic financial restructuring.
(With inputs from agencies.)
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