Khalil: No Intention to Restructure Debt or Violate Holders Rights

Caretaker Finance Minister Ali Hassan Khalil stressed Friday that there was “absolutely no intention of touching the value of Lebanese bonds” or to “restructure” the country's debt.

“There is absolutely no intention of touching the value of Lebanese bonds or taking a percentage of them,” Khalil said.

“The proposals are an operation to organize and manage the debt and to move ahead with reform measures that reduce the burden of it,” he clarified, after a media report caused Lebanon’s dollar-denominated sovereign bonds to tumble for a second day.

The media report apparently carried an inaccurate headline that mixed up the words “reschedule” and “restructure.”

Khalil said such a rescheduling would be undertaken in coordination with lenders and the central bank.

There is “no intention to restructure or to violate the rights of holders of sovereign debt instruments in any way at all,” the minister stressed.

Source: Naharnet

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