|30 June, 2019

Qatar buys Lebanese bonds as part of $500mln investment in economy

Qatar has bought some Lebanese government bonds as part of its planned $500 million investment in the Lebanese economy, a Qatari government official told Reuters

Lebanese Currency.

Lebanese Currency.

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DOHA- Qatar has bought some Lebanese government bonds as part of its planned $500 million investment in the Lebanese economy, a Qatari government official told Reuters on Sunday.

The Qatari Ministry of Foreign Affairs said earlier this year the wealthy Gulf country planned to invest $500 million in Lebanese government U.S. dollar bonds to support Lebanon's struggling economy, which has one of the world's highest levels of public debt to GDP and stagnant growth. 

"Qatar has always been committed to strengthening its ties with the brotherly Lebanese Republic. Hence it decided to invest $500 million in the Lebanese economy, including purchasing Lebanese government bonds. Some of the bonds have been purchased. The rest of investments are due as planned with the Lebanese government,” the official said.

(Reporting by Eric Knecht, writing by Davide Barbuscia, editing by Alexander Smith) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))

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