File - The Finance Ministry in Riad al-Solh Square, Beirut (The Daily Star)
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Lebanon's government plans to issue a $450 million Eurobond by the end of this year in order to meet the country's funding needs, the country's finance minister told Reuters.Ali Hasan Khalil said the government also planned to sell a further $4.4 billion in Eurobonds over the next three years and hoped to get legislative approval for this by early November. Khalil said he expected the economy to grow by 2 percent this year, slightly up from a projected 1.5 percent which was the same as in 2013 .In its latest Eurobond issue in May, Lebanon managed to sell its long-term 10-year treasury bonds at a lower interest rate of 7.28 down from 8.24, which Khalil said was a sign that investors' confidence in the country remained high.Khalil said at the end of 2013, Lebanon presented the United Nations with a paper estimating the costs of refugees on the economy at $7.6 billion but the country saw little response.
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