March 4, 2020 / 12:11 PM / a month ago

Lebanon's LBC: finance minister proposed extend bonds for 5 years with 0% rate

BEIRUT, March 4 (Reuters) - Lebanese broadcaster LBC reported on Wednesday that Finance Minister Ghazi Wazni had proposed to banks to extend the maturities of local and foreign currency debt for five years with an interest rate of 0%.

Lebanon, facing a major financial crisis, is widely expected to restructure its public debt, one of the largest in the world compared to the size of the economy. (Writing by Tom Perry; Editing by Kevin Liffey)

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