The data released by the Ministry of Finance (MoF) recently indicated that Lebanon’s gross public debt hit $99.98B in February 2022, thereby recording an annual increase of 3.3% YOY.
The rise is mainly attributed to the annual increase in both local and foreign currency debt by 0.81% and 7.3%, respectively. In details, debt in local currency (denominated in LBP) stood at $60.863B in February 2022. As such, domestic debt constituted 60.88% of the total public debt.
Meanwhile, total debt denominated in foreign currency (namely in USD) reached $39.11B over the same period. In turn, total foreign debt grasped a stake of 39.12% of the total public debt by February 2022. It is worth mentioning that $9.45B represents the unpaid Eurobonds, their coupons and accrued interests, due to the default on government Eurobonds in March 2020.
Looking at net domestic debt, which excludes public sector deposits with the central bank and commercial banks, it decreased by 3.5% YOY to $47.87B in February 2022.
Domestic and Foreign Debt by February 2022 ($B)
Source: MoF, BLOMINVEST Bank