Hasbani said the government’s priority is to reduce the deficit and attract more private investors. (The Daily Star/Hasan Shaaban)
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Lebanon anticipates allies will help it maintain the pound's stability by depositing money with its Central Bank, Deputy Prime Minister Ghassan Hasbani said Sunday.Lebanon, one of the world's most indebted countries, has sought to mobilize support and allay investor concerns that it risks a financial meltdown driven by political turmoil and doubts over its ability to repay creditors.Soon after Qatar's pledge last month, Saudi Arabia's finance minister said the kingdom would support Lebanon "all the way".Moody's Investors Service estimates the budget deficit probably widened to 10.5 percent of gross domestic product last year, up from its previous expectation for 8.9 percent.
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