The Eurobond market continued to trace an upward streak this week. Prices of sovereigns expanded further from 18.15-18.85 cents per US dollar at the end of last week to 18.60-19.30 on Friday. Within this context, it is worth mentioning that Lebanese debt prices nearly tripled since late September, when they were quoted at 6.50 cents per US dollar.  The strong bond price rally followed a string of promising political developments, starting from the ceasefire deal, to the fall of the Syrian regime, the Presidential elections and the formation of a new cabinet that has pledged reforms, and as an IMF delegation is expected to visit Lebanon in March. All these developments have reinforced Lebanon’s economic, financial and reform outlook and bolstered prospects of a new IMF deal. Under these conditions, international institutional investors are betting that Lebanese Eurobonds would pursue their upward trajectory, noting that recovery is subject to a ceiling of 25 cents per US dollar with debt restructuring, as expected by Goldman Sachs. (ICE BEIRUT)

Fonte notizia: Bank Audi, Lebanon Weekly Monitor, 17 - 23 Feb 2025