(MENAFN) Lebanon is possibly going to reorganize its sovereign debt in a way that keeps the economy and depositors safe, as said by the head of the Association of Banks in Lebanon on Monday.
According to Salim Sfeir, "this will be the responsibility of the new government," adding that "this will happen by reducing interest rates and extending maturities on Eurobonds".
USD89.5 billion is Lebanon's public debt with 38 percent of it in foreign currency.
30 percent of the Eurobonds is held by foreigners and Lebanese investors hold the main part of the debt.
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