People stand in front of the Lebanese Central Bank in Beirut, Monday, Feb. 25, 2013. (The Daily Star/Hasan Shaaban)
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The Central Bank will again come to the rescue of Parliament if lawmakers do not approve the issuance of new sovereign Eurobonds, bankers and economists said Wednesday.The Central Bank has sold $2.2 billion of sovereign Eurobonds this year, and swapped LL6 trillion of 2013 and 2014 certificates of deposit with longer maturity ones, Salameh disclosed. Economists and bankers estimate that Lebanon needs to roll over and issue new Eurobonds valued at $1.7 billion in 2014 and these new issues require the prior approval of the Lebanese Parliament.The banker noted that in recent years the Finance Ministry and the Central Bank had extended the maturity of the T-bills for up to 10 years with reasonable interest rates.
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