The deal would be the largest of its kind in the country since 2019, according to data compiled by Beirut Financial. The programme includes technical assistance from the World Bank and a monitoring framework agreed with donors.
Critics argue the timeline is unrealistic and that the burden will fall disproportionately on small depositors. Critics argue the timeline is unrealistic and that the burden will fall disproportionately on small depositors.
Market reaction
Investors have been watching the negotiations closely, with yields on the 2030 notes narrowing by 40 basis points this week. The deal would be the largest of its kind in the country since 2019, according to data compiled by Beirut Financial.
“Nobody wants a repeat of 2019, and that concentrates minds.”
The programme includes technical assistance from the World Bank and a monitoring framework agreed with donors. The plan sets out three phases, beginning with an audit of balance sheets and ending with a recapitalisation schedule.
The plan sets out three phases, beginning with an audit of balance sheets and ending with a recapitalisation schedule. Remittances remain the single largest source of hard currency, accounting for roughly a fifth of national income.
Key details
The figures, published on Tuesday, compare with a contraction of 2.1 percent in the same period a year earlier. Remittances remain the single largest source of hard currency, accounting for roughly a fifth of national income.
The announcement lifted shares in the sector by as much as four percent in early trading. The deal would be the largest of its kind in the country since 2019, according to data compiled by Beirut Financial.
