Saudi Arabia vows full support for struggling Lebanon

Saudi Arabia vows full support for struggling Lebanon

DUBAI: Saudi Arabia has said it will provide “full assistance” to Lebanon, as the country continues to face a sluggish economy, Saudi Arabia’s finance minister said.

“We are interested to see stability in Lebanon and we will support Lebanon all the way,” Mohammed Al-Jadaan told American broadcaster CNBC at the World Economic Forum (WEF) in Davos.

“We are also determined to making sure that we play our role as a catalyst of stability in the region,” he added.

Al-Jadaan’s statement comes after Qatar announced its plans to buy $500 million worth of sovereign bonds to boost Beirut’s bond market.

Lebanon has one of the world’s highest levels of public debt compared to GDP and stagnant growth.


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