Lebanon’s finance minister said on Friday there was “absolutely no intention of touching the value of Lebanese bonds”, following a Bloomberg report that quoted him saying a fiscal reform plan being prepared included a debt rescheduling.



Asked whether a haircut was under consideration, Ali Hassan Khalil told Reuters: “There is absolutely no intention of touching the value of Lebanese bonds or taking a percentage of them.



“The proposals are an operation to organize and manage the debt and to move ahead with reform measures that reduce the burden of it.”

SEE ALSO: Lebanon prepares plan to restructure public debt

Dollar bonds tumble for second day

Meanwhile, Lebanon’s dollar-denominated bonds suffered a second day of hefty falls with many issues trading at record lows.



The 2025 bond dropped 5.25 cents to a fresh record low of 73.50 cents in the dollar.

Last Update: Wednesday, 20 May 2020 KSA 09:54 - GMT 06:54