Lebanese Bond Meltdown Eases Even as Russia Denies Aid Report
- A $1.2 billion bond due March 9 fell to record low this week
- Odds of March Eurobond being repaid are 50:50, says Manulife
This article is for subscribers only.
Lebanon’s bonds pared this week’s tumble after a Beirut-based newspaper reported that Russia is considering financial support for the Arab nation -- despite the Finance Ministry in Moscow later denying it was in talks about aiding the government.
Russia plans to help Lebanon cope with its economic crisis and is considering a $1 billion deposit with its central bank, Al-Akhbar reported. If the money did come through, it might help Lebanon repay a $1.2 billion bond maturing on March 9.