March 29, 2018 / 8:48 AM / 7 months ago

Lebanon plans to raise $5 bln in swap operation with central bank

BEIRUT, March 29 (Reuters) - The Lebanese government plans to issue $5 billion in treasury bonds in a swap operation with the central bank in exchange for treasury bonds to meet state spending needs in Lebanese pounds at an interest rate of 1 percent, the finance minister said on Thursday.

Ali Hassan Khalil, speaking in parliament, said the operation would strengthen the central bank’s foreign exchange assets and also save the Lebanese treasury a total of 2.2 trillion Lebanese pounds ($1.5 billion). (Writing by Tom Perry Editing by Gareth Jones)

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