A Moody's sign on the 7 World Trade Center tower is photographed in New York in this August 2, 2011, file photo. REUTERS/Mike Segar
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Moody's Investors Service warned that the cost of debt servicing in Lebanon could reach 58.6 percent of the government's revenues by 2021 if the fiscal deficit maintained the same momentum.At present, the cost of debt servicing is a little less than 50 percent of the total government revenues.If Moody's scenario becomes a reality this means that the Lebanese government will have to pay higher interest rates on sovereign Eurobonds in 2021 . In June, Moody's warned again of an impending danger if Lebanon fails to take drastic measures to reduce the public debt that has reached alarming proportions.
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