#Qatar Plans to Support #Lebanon with $500 Million Bond Purchase - Bloomberg

Qatar Plans to Support Lebanon with $500 Million Bond Purchase - Bloomberg:

Qatar said on Monday it plans buy $500 million of Lebanese government bonds to help support one of the world’s most indebted countries. Eurobonds rallied by the most since September.

Lebanon’s struggling economy needs a cash infusion to reassure bond holders still reeling from mixed remarks by officials about the possibility of debt restructuring this month.

Lebanon’s Finance Minister Ali Hasan Khalil roiled bond markets when he told a newspaper the country may restructure its debt as part of a plan to repair public finances battered by sluggish economic growth, a political impasse that has left it without a functioning government for months and the war in neighboring Syria. He later denied the plans and officials got together to reassure investors the country would honor its obligations on time.