BLOMINVEST Research

22/04/2026

Goldman Sachs values Lebanese Eurobonds recovery at 22–23¢. BLOMINVEST’s scenario analysis points closer to 19¢.

The market is closer to 27.5¢, betting that politics, peace, and reforms fall into place, fast.

On 30 March 2026, Goldman Sachs (GS) published a CEEMEA in Focus research note titled “Bond Math Suggests Further Downside Risks to Lebanon Recovery Values”. The report argues that despite the decline in Eurobonds prices since the re-escalation of the war, this pricing remains too generous. In G...

19/04/2026

Speculators don’t guess, they calculate.
Low FX reserves + excess LBP = pressure on the peg.
So where does Lebanon stand today?


https://blog.blominvestbank.com/speculation-foreign-reserves-and-exchange-rates-a-note-on-lebanon/

17/04/2026

Lebanese Eurobonds jumped this week after a ceasefire between Lebanon and Israel took effect. Markets welcomed the pause, but risks remain high as economic reforms and IMF support are still uncertain.

Lebanese Eurobonds surged 19% this week, supported by a fragile ceasefire, while U.S. Treasuries also rallied as Middle East tensions eased. For the full report, click HERE.

04/03/2026

The BLOM Lebanon PMI rose to 51.2 in February, its seventh month of expansion. But with the Israel‑Hezbollah conflict escalating in March, the PMI is expected to fall to near 47.

The BLOM Lebanon PMI rose to 51.2 in February 2026, from 50.1 in January, its seventh straight month in expansion. Growth was driven by rising new orders, and stronger output, supported partially by an expected rise in public sector wages in the short-term and improvement in the country’s economic...

17/02/2026

The IMF’s visit to Lebanon brought off‑the‑record proposed changes to BDL’s balance sheet. But how would these reshape it—and what further adjustments are truly needed?

https://blog.blominvestbank.com/impact-of-imf-recommendations-on-bdls-balance-sheet/

12/02/2026

Trading above 29¢, Lebanon’s Eurobonds appear resilient, yet Goldman Sachs sees fair value at just 12–25¢, cautioning that hidden losses and political risks could make current optimism short‑lived.

https://blog.blominvestbank.com/gs-lebanons-eurobond-rally-has-run-too-far-too-fast/

03/02/2026

💡 Lebanon’s electricity crisis is more than blackouts—it’s billions in debt, rising pollution, and lost opportunities. But reforms, renewables, and partnerships could flip the switch toward growth. Let’s talk about turning power into progress.

Lebanon’s electricity sector is in a state of chronic dysfunction, characterized by massive financial losses, severe supply shortages, and a reliance on costly private generators. Political divisions, corruption, and technical inefficiencies at Électricité du Liban (EDL) have turned the crisis i...

29/01/2026

Lebanon’s BLOM PMI averaged 50 in 2025, the first year ever outside contraction. Read more.

Lebanon has faced a prolonged period of economic pessimism since the 2019 crisis, but recent data suggests a shift toward recovery. In 2025, the BLOM Lebanon Purchasing Managers’ Index (PMI) reached an annual average of 50, the first time since data collection began that the index was not in contr...

16/01/2026

The BLOM Bond Index (BBI) broke the 30 point barrier for the first time since February 2020. Is this a turning point or just another short lived rebound? Read more.

The BLOM Bond Index (BBI), which tracks Lebanese government Eurobonds that haven’t matured yet, excluding coupon payments, has surged by 24.8% since the start of 2026, reaching 30.17 points on January 14, 2026. This is due to: For the full report, click HERE.

22/12/2025

How will the latest proposed Gap Law impact banks?

Table 1: Commercial Banks Foreign Assets: October 2025, Million USD Currency and Deposit in Other CBs 704 Loans 5,224 Claims on Non-Resident Fin. Sector 5,213 Eurobonds (net of provisions) 2,180 Non-Resident Securities Portfolio 1,330 Other Foreign Assets 2,697 Table 2: Commercial Banks Adjusted For...

12/12/2025

Has the Arab world fallen into the middle‑income trap — and if so, why?

In the economic growth literature, two interesting ideas stand out: nominally speaking, the first captures a standard idea and the second happens when the first idea fails midway. In concreate terms, the first idea is economic catch-up or convergence, and it takes place when poorer countries grow fa...