Lebanon Central Bank in Beirut, Saturday, March 18, 2017. (The Daily Star/Mohammad Azakir)
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The Finance Ministry Friday swapped $5.5 billion worth of Lebanese pound bonds held by BDL with dollar-denominated Eurobonds to meet its refinancing needs in foreign currency and to cover the cost of debt servicing until the end of 2018, the ministry said in a statement.As part of the agreement, Banque du Liban will subscribe the same amount of LL8.250 trillion in LBP Treasury bills for three to 10 years at 1 percent interest, providing a debt service to the Treasury with a total net amount of $1.4 billion over the maturity period.
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