The first half (H1) of 2016 was marked by unstable geopolitical dynamics and a continuing political stalemate, with almost 26 months of political vacuum. In the beginning of 2016, GCC countries (Bahrain, Kuwait, Qatar, and Saudi Arabia) warned their citizens from travelling to Lebanon. This occurred after Saudi Arabia halted $4B in aid to the Lebanese Armed Forces in response to diplomatic differences with the Lebanese government, in January. Moreover, a bombing exploded next to BLOM Bank headquarters in June.
These events enervated the performance of the Lebanese Eurobonds Market, as reflected by the BLOM Bond Index (BBI) that reached its lowest level in more than 7 years at 102.31 points on the 29th of June 2016.
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