As Lebanon edges ever close to a financial crisis, Goldman Sachs says investors will be lucky to get 35 cents on the dollar. Slow growth, political instability and regional conflict have all weighed heavily on Lebanon's economy.
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00:00As Lebanon edges ever closer to a financial crisis, Goldman Sachs has said that foreign
00:06investors there could reclaim just 35 cents on the dollar in the event of a debt restructuring.
00:12Slow growth, political instability and regional conflicts have all weighed heavily on Lebanon's
00:17growth in the past seven years, and now Goldman Sachs says that the country, which has one
00:21of the highest debts in the world, could be on the brink of a financial crisis. That being
00:27said, Lebanon has financial reserves and enough foreign liquidity to see it through for the
00:32next couple of years, the report added.
00:34Globally, markets rose on Monday off the back of the US and China's indication that they
00:39would be working towards a trade deal to ease the current ongoing trade war. Markets across
00:46Asia saw gains on Monday morning, both in Korea, Hong Kong and Japan, although by mid-afternoon
00:53on Monday, gains in Europe had been pared down as increasing concerns over that deal
01:00began to unfold.
01:02And lastly, Tesla broke ground on its first foreign factory today in Shanghai. In collaboration
01:09with the Shanghai government, the company says that it will be producing Model 3 Teslas
01:15for the Chinese market exclusively.
01:18That's all for today. Thanks very much for watching and we'll be back tomorrow with more headlines.
01:23Transcription by ESO. Translation by —