Upbeat on debt

Reuters reports that Jihad Azou, the caretaker finance minister, is confident that the country can manange, in the short term at least, the massive $43 billion debt repayments:

"Interest rates can be progressively adjusted downwards in order to reflect an improvement in the risk profile. I see the whole yield curve being adjusted.

"It will improve the public finance situation by reducing the debt service. This is the biggest strain on the spending of the treasury. Any reduction in interest rate will immediately translate into a reduction in budget deficit."