November 19, 2019 / 10:58 AM / 24 days ago

Lebanon's bonds flash warning lights as protests rumble on

LONDON (Reuters) - 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 XS1196419854=TE. 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

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