Lebanon’s woes, Oman’s loan to precede Gulf support

The resignation of Lebanon’s government is unlikely to result in the political change that protestors are demanding and, with debt restructuring negotiations on hold, bondholders will probably have to endure even larger writedowns than previously expected. Elsewhere, Oman secured a $2bn loan this week from international and regional banks but we think that the country will have to turn to other Gulf countries for financial support sooner rather than later.