View of the Achrafieh, in Beirut. (Credit: Philippe Hage Boutros/L'OLJ)
Joseph Aoun's election as Lebanon's president last Thursday, ending more than two years of political deadlock, was met with optimism from local and international investors holding Lebanese debt.This sense of hope was further fueled by the subsequent appointment of Nawaf Salam as prime minister on Monday. Observers are now looking to see if this political momentum will lead to tangible progress.Despite a boycott by the Amal-Hezbollah Shiite alliance of the first non-binding parliamentary consultation in Parliament, eurobond prices on the secondary market held steady. Prices have remained between 16 and 17 cents on the dollar for the past week, showing resilience among holders. Read more Banking secrecy under Joseph Aoun’s scrutiny The price of Lebanon’s dollar-denominated debt securities, which the state ceased repaying in March 2020...
Joseph Aoun's election as Lebanon's president last Thursday, ending more than two years of political deadlock, was met with optimism from local and international investors holding Lebanese debt.This sense of hope was further fueled by the subsequent appointment of Nawaf Salam as prime minister on Monday. Observers are now looking to see if this political momentum will lead to tangible progress.Despite a boycott by the Amal-Hezbollah Shiite alliance of the first non-binding parliamentary consultation in Parliament, eurobond prices on the secondary market held steady. Prices have remained between 16 and 17 cents on the dollar for the past week, showing resilience among holders. Read more Banking secrecy under Joseph Aoun’s scrutiny The price of Lebanon’s dollar-denominated debt securities, which the state ceased repaying in March...