Beirut, Jan 21 (AP) Qatar has announced that it will invest USD 500 million in Lebanese government bonds to support the Mediterranean country’s struggling economy. Also Read - Massive Blast Rocks Hezbollah Town in Southern Lebanon, Several Injured
Qatar’s Foreign Minister Sheikh Mohammed bin Abdulrahman Al-Thani made the announcement in comments to Qatar’s state news agency. Also Read - Days After Lebanon Blast, Another Huge Fire Triggers Panic Among Residents in Beirut; Cause of Blaze Unknown
Monday’s announcement came a day after Qatar’s ruler Sheikh Tamim bin Hamad Al Thani made a short rare visit to Lebanon where he met President Michel Aoun and took part in an Arab economic summit. Also Read - Emmanuel Macron, Angela Merkel Greet Each Other With 'Namaste', Video Goes Viral | Watch
Lebanon’s economy has been struggling from massive debt, little growth and high unemployment.
Earlier this month, Lebanon’s Finance Minister Ali Hassan Khalil was quoted by a local newspaper as saying that the country may restructure its debt, leading to sell-off in Lebanese bonds.
He later clarified that Lebanon is committed to paying back all maturing debt. (AP) MRJ MRJ
This is published unedited from the PTI feed.