Officials say the measures could take effect before the end of the quarter, although parliament has yet to schedule a vote. Executives said demand from Gulf clients had exceeded expectations, prompting plans for a second facility in Tripoli.
Officials say the measures could take effect before the end of the quarter, although parliament has yet to schedule a vote. The announcement lifted shares in the sector by as much as four percent in early trading.
Background
Remittances remain the single largest source of hard currency, accounting for roughly a fifth of national income. Analysts caution that the outlook remains tied to the pace of structural reforms and the political calendar.
“This is the most consequential moment for the sector since the crisis began.”
Investors have been watching the negotiations closely, with yields on the 2030 notes narrowing by 40 basis points this week. Officials say the measures could take effect before the end of the quarter, although parliament has yet to schedule a vote.
Investors have been watching the negotiations closely, with yields on the 2030 notes narrowing by 40 basis points this week. Bankers who spoke to Beirut Financial described the mood as cautiously optimistic, with liquidity improving month on month.
The wider picture
The figures, published on Tuesday, compare with a contraction of 2.1 percent in the same period a year earlier. The plan sets out three phases, beginning with an audit of balance sheets and ending with a recapitalisation schedule.
A spokesperson declined to comment on the size of the facility, citing ongoing discussions with creditors. A spokesperson declined to comment on the size of the facility, citing ongoing discussions with creditors.
Investors have been watching the negotiations closely, with yields on the 2030 notes narrowing by 40 basis points this week. The figures, published on Tuesday, compare with a contraction of 2.1 percent in the same period a year earlier.
