LONDON, Jan 30 (Reuters) - Lebanon’s sovereign dollar bonds climbed on Thursday, with several notching up their biggest daily rise since early December amid increased hopes among investors for a plan to fight the country’s worst economic crisis in decades.
Market sentiment was boosted by meetings on Wednesday between ministers and banking officials to discuss how to ease the crisis, said Nafez Zouk, lead economist and emerging markets strategist at Oxford Economics.
“The general mood was ‘reassuring’ as everyone was trying to send positive vibes, suggesting that we aren’t yet at the edge of crisis, and that we still have time,” Zouk said in an emailed comment. “I think markets are taking that to mean that March will be paid.”
Investors are waiting on a government decision about how it will deal with its debt pile, including a $1.2 billion Eurobond maturing in March. (Reporting by Tom Arnold Editing by Gareth Jones)