Financial support: A man heads to the Lebanese central bank in Beirut. Lebanon needed Qatar’s commitment to invest US500mil in its debt and a Saudi pledge to support the economy “all the way” to help its Eurobonds recover. — AP
DUBAI: Lebanon should consider a voluntary debt restructuring to avert a financial crisis despite pledges of aid from Gulf benefactors, according to Franklin Templeton Investments, which manages US$650bil in assets worldwide.
A debt overhaul needed to be part of a reform programme backed by lenders such as the International Monetary Fund (IMF), said Mohieddine Kronfol, the firm’s chief investment officer for global sukuk and Middle East and North Africa fixed income.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
