HIGHLIGHTS …………………………………………………………………………………………………………………………….1

KEY COST AND RISK INDICATORS ……………………………………………………………………...……………….….1

SOVEREIGN RATINGS ………………………………………………………………………….……………………………….….1

INTEREST RATES & COST ……………………..……………………………………………………………………….…….….2

OVERALL DEBT DATA ………………………………….……………………………………………………………….…….….3

AMORTIZATION PROFILE ……………………………...……………………………………………………………….…….….4

DOMESTIC CURRENCY DEBT DATA ……………………………………………………………………………….…….….5

FOREIGN CURRENCY DEBT DATA ………………………………………………………………………………….…….….7

DEBT AND DEBT MARKETS

HIGHLIGHTS

KEY COST AND RISK INDICATORS

SOVEREIGN RATINGS

5,4575,714

6,314

6,722

7,185

7,521

8,156 8,068

2,917

517

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

2012 2013 2014 2015 2016 2017 2018 2019 2020 Feb-21

(bill

ion L

L)

Interest payments Interest Payments as % of Total Expenditures Interest Payments as % of Total Revenues

3.50%

4.00%

4.50%

5.00%

5.50%

6.00%

6.50%

7.00%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

3M T-bills 6M T-bills 12M T-bills 2-year 3-year 5-year 7-year 8-year 9 -year 10-year 15-year

DX - Primary

DX INTEREST RATES & COST

Source: MOF,

Source: MOF

(4)

(5)

32,139 31,070 31,59736,776 39,400 38,612 40,836 42,382 45,815 50,495 50,871 54,346 55,297

44,973 48,255 49,34050,198

56,312 61,75265,195

70,52874,077

77,85287,279

89,762 91,327

144%

137%

134%

131%135%

138% 140%

146%

149%

154%

171%

100%

110%

120%

130%

140%

150%

160%

170%

180%

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

100,000

110,000

120,000

130,000

140,000

150,000

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Mar2021

(bill

ion L

L)

Gross Foreign debt Gross domestic debt Gross Debt to GDP (%)

Source: MOF, BDL

OVERALL DEBT DATA

8,48610,422 10,326

8,357

14,528

4,476

5,2634,576

4,024

3,350

-

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

20,000

2021 2022 2023 2024 2025

(LBP billion)

Coupon maturities Principal maturities (incl. discount interest for 3, 6, and 12 month T-bills)

2,092.5 2,040.0

1,600.0 1,488.5 1,600.0

1,771.9 1,959.4

1,810.61,738.4 1,614.2

233241

222192 177

-

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

2021 2022 2023 2024 2025

(US$ million)

FX Loans Debt Service Eurobonds Interest (Payment Suspended) Eurobonds Principal (Payment Suspended)

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

(US

$ m

illio

n)

Domestic debt Principal Domestic debt coupons

FX Loans Debt Service Eurobonds Principal (Payment Suspended)

Eurobonds Interest (Payment Suspended)

Source: MOF, BDL Note : The data used for the amortization schedule is based on outstanding and not on committed amounts.

AMORTIZATION PROFILE

31.6%36.7%

42.9%48.2% 50.3%

58.3%61.6% 62.0%

51.5%46.3%

41.8%37.3% 35.0%

28.7%25.5% 25.2%

12.5% 13.0% 12.4% 12.1% 12.8% 11.5% 11.6% 11.6%

4.4% 3.9% 3.0% 2.4% 1.9% 1.5% 1.3% 1.2%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Dec 14 Dec 15 Dec 16 Dec 17 Dec 18 Dec 19 Dec 20 Mar 21

Central Bank Commercial Banks Public Institutions Others

1.7% 1.6% 1.6%5.56% 5.26% 4.44% 4.23% 4.02% 3.59% 3.49% 3.44%

7.90%12.49% 16.44%

21.68%

27.62%35.38% 37.87% 37.68%

3.27%

3.09%2.65%

2.52%

2.39%

2.14% 0.08% 0.07%

16.9%

18.9%

21.2%18.6%

14.8%

18.2%21.3% 21.6%

20.2%

20.4%

22.3%22.9%

23.2%

23.4%

24.5% 24.8%39.6%

31.1%20.8% 15.5%

13.5%

10.6%7.6% 7.7%

3.6% 6.6%7.5% 10.1% 9.1%

3.9% 2.2% 2.0%3.1% 2.1% 4.4% 4.2% 3.5% 1.2% 1.4% 1.1%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Dec 14 Dec 15 Dec 16 Dec 17 Dec 18 Dec 19 Dec 20 Mar 21

15 YR bonds 12 YR bonds 10 YR bonds

8 YR bonds 7 YR bonds 5 YR bonds

3 YR bonds 2 YR bonds Short term bills (12MN, 6MN, 3MN TBs)

DOMESTIC CURRENCY DEBT DATA

Source: MOF, BDL Notes: Commercial Banks figures include the amounts of repurchase agreements.

Source: MOF

Notes: 1- Only treasury bills with maturities less than 24 months are issued at a discount to their face value. 2- The 5 YR bonds figure includes LL 120 billion contractor bonds issued in Jul 2016 and Jun 2017.

Banks

1.2%

Public Institutions

47.5%

Others

1.6%

BDL

49.7%

DOMESTIC CURRENCY DEBT DATA

Source: MOF

General and Technical Government Services

9.08%Power1.72%

Transportation16.39%

Education8.59%

Health6.59%

Social4.12%

Water40.49%

Infrastructure6.25%

Other 6.77%

Euro14.88%

Kuwaiti Dinar34.45%

US Dollar36.92%

Islamic Dinar6.02%

Saudi Arabian Riyal2.76%

SDR4.16%

Other0.81%

FOREIGN CURRENCY DEBT DATA

Source: MOF

Source: MOF