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| Lebanon public debt tops
$41bn BEIRUT, Lebanon -- Public debt in Lebanon, which is plagued by political crisis, soared to $41.3 billion in May, $100 million up from the previous month, the banking association said Wednesday. "Most economic indicators fell to alarming levels in May 2007 due to the current political crisis and the unfolding security developments," the Association of Banks in Lebanon (ABL) said in a statement. ABL said that public debt reached $41.3 billion last month, compared to $41.2 billion in April. But it was not all bad news: Lebanon's balance of payments registered a $261 million surplus in May and bank deposits and loans to customers also both increased. |
