|19 November, 2019

Lebanon's bonds flash warning lights as protests rumble on

Lebanon has one of the world's highest debt-to-GDP ratios at around 150%.

A girl has the national flag draped over her shoulders as riot police stand guard, during the ongoing anti-government protest, in Beirut, Lebanon, November 19, 2019.

A girl has the national flag draped over her shoulders as riot police stand guard, during the ongoing anti-government protest, in Beirut, Lebanon, November 19, 2019.

Reuters/Aziz Taher

LONDON- Lebanon's dollar-denominated government bonds fell to new record lows on Tuesday, having already lost more than a third of their value since anti-government protests first broke out just over a month ago.

Worries that the country was heading for economic collapse took some of its longer-dated bonds to as low as 44.5 cents on the dollar. They were at almost 70 cents when protests started.

Lebanon has one of the world's highest debt-to-GDP ratios at around 150%. The country's parliament was blocked from holding its first session for two months on Tuesday after protesters prevented lawmakers from reaching the building. 

(Reporting by Marc Jones; Editing by Tom Arnold) ((marc.jones@thomsonreuters.com; +44 (0)207 542 9033; Reuters Messaging: marc.jones.thomsonreuters.com@reuters.net Twitter @marcjonesrtrs))

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