Lebanon’s bonds pared this week’s tumble after a Beirut-based newspaper reported that Russia is considering financial support for the Arab nation -- despite the Finance Ministry in Moscow later denying it was in talks about aiding the government.
Russia plans to help Lebanon cope with its economic crisis and is considering a $1 billion deposit with its central bank, Al-Akhbar reported. If the money did come through, it might help Lebanon repay a $1.2 billion bond maturing on March 9.
It would “improve the chances of the bond due in six weeks being repaid,” said Richard Segal, a senior analyst at Manulife Investment Management in London. “I’d place these odds at 50:50.”
Lebanon has asked several countries for loans to prevent shortages of imported food and medicine.
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