The Ministry of Finance issued a $5.5bn four-tranche Eurobond that it swapped with LBP8,250bn worth of Lebanese pound-denominated Treasury bills from Banque du Liban's (BdL) portfolio. It said that the issuance covers its refinancing needs and debt servicing in foreign currency until the end of 2018. Also, it noted that the swap operation helps BdL strengthen its assets in foreign currency through the acquisition of the Eurobonds. It pointed out that it plans to issue another Eurobond towards the end of the year or in early 2019, depending on more appropriate conditions in emerging markets.

The first series consists of reopening and increasing by $1bn an existing bond that matures in March 2028 and that carries a coupon of 8%, while the second series consists of reopening and increasing by $1.5bn an existing bond that matures in November 2031 and carries a coupon of 8.1%. The third series consists of a 15-year $1.5bn Eurobond that matures in May 2033 and carries a coupon of 8.2%, while the fourth series is an 18-year $1.5bn Eurobond that matures in May 2034 and that carries a coupon of 8.25%.

In parallel, the Finance Ministry indicated that BdL will subscribe to Treasury bonds that the ministry will issue, as part of the deal between the two parties. As such, it noted that BdL will acquire Treasury bonds worth LBP8,250bn that have maturities ranging between three and 10 years and that carry 1% interest rate. The ministry added that its operations with BdL will save the equivalent of $1.4bn in debt servicing cost for the Treasury. 

Figures issued by the World Bank show that 34.8% of Lebanese who are 15 years or older owned a debit card at the end of 2017, up from 33.4% at end-2014. The share of Lebanese adults who owned a debit card came in 71st place among 144 countries globally, in 23rd place among 38 upper-middle income countries (UMICs), and in seventh place among 16 countries in the Middle East & North Africa (MENA) region. Globally, Lebanon's debit card ownership rate is higher than that of South Africa (34.1%), India (32.7%) and the Dominican Republic (32.4%), and lower than that of Kenya (37.6%), Kosovo (37.4%) and Montenegro (36.4%). It is also lower than the global average rate of 47.7%, the average rate of UMICs of 58.8% and the average rate of MENA countries of 35.8%.

In parallel, 33.1% of Lebanese adults have made or received digital payments in 2017 compared to 31.9% in 2014.  Digital payments include payments through debit or credit cards, as well as through mobile money services, which allow users to store and transfer funds, to make a payment through a mobile phone from an account and to use the Internet to pay bills or to buy goods or services online. They also consist of paying bills, sending or receiving remittances, as well as receiving wages and salaries directly into a financial institution account or a mobile money account. The share of Lebanese adults that made or received digital payments in 2017 is the 43rd lowest among 144 countries globally, the eighth lowest among 38 UMICs, and the ninth lowest among 16 countries in the MENA region. It is also lower than the global average rate of 52.3%, the average rate of UMICs of 62.3% and the average rate of MENA countries of 37.7%. In addition, 13.8% of Lebanese reported using the Internet to buy goods or services online in 2017, of which 16.4% paid online for the purchase, while 83.4% paid cash on delivery.

Figures issued by Banque du Liban show that utilized credits by the private sector from commercial banks and financial institutions totaled $68.7bn at the end of 2017, constituting an increase of 6.9% from $64.2bn at end-2016. Trade & services accounted for $22.6bn or 33% of utilized credits at the end of 2017, followed by personal credit with $21.4bn (31.2%), construction with $11.5bn (16.7%), industry with $6.8bn (10%), financial intermediaries with $3.6bn (5.3%) and agriculture with $785.2m (1.1%), while other sectors represented the remaining $1.9bn (2.8%). The distribution of credit by type shows that advances against real estate totaled $25.9bn and accounted for 37.7% of private sector utilized credits at the end of 2017. Overdrafts followed with $18.9bn (27.5%), then advances against personal guarantees with $12.6bn (18.4%), advances against cash collateral or bank guarantees with $7.8bn (11.3%), advances against other real guarantees with $2.2bn (3.2%) and advances against financial values with $1.2bn (1.8%).

The aggregate number of loan beneficiaries grew by 3.7% from the end of 2016 to 615,602 at end-2017; while 69.7% of beneficiaries had loans ranging from LBP5m to LBP100m at the end of 2017. Beirut and its suburbs accounted for 75.1% of bank credits and for 53.2% of beneficiaries. Mount Lebanon followed with 12.7% of credits and 18.5% of beneficiaries, then South Lebanon with 4.7% of credits and 10.1% of beneficiaries, North Lebanon with 4.4% of credits and 10.7% of beneficiaries, and the Bekaa region with 3.2% of credits and 7.4% of beneficiaries.