What is Public Debt ?

Public debt ("Government debt", "national debt") is money owed by government, at any level (central government, federal government, national government, municipal government, local government, regional government). It's possible to consider this an indirect debt of the tax payers.

Government debt can be divided into internal debt, owed to lenders within the country, and external debt, owed to foreign lenders. It consists of government bonds, bank loans, and according to some measures, unfunded liabilities such as pension plan payments and goods and services the government has contracted for but not yet paid.

Another common division of government debt is by duration: Short term debt is generally considered to be five years or less, long term is more than ten years. Medium term debt falls in the middle.

EU poll observers start Lebanon mission

BEIRUT, Lebanon -- The European Union's Elections Observation Mission kicked off in Lebanon Monday as 26 observers were deployed to various parts of the country.

"Our election observation mission will be made up of 100 observers. Already 26 long-term monitors were deployed this morning across the country," Mission Chief Jose Ignacio Salafranca of Spain told reporters.   
     
The observers were dispatched to Lebanon as a result of an agreement between the EU and Lebanese government.

Foes unite as Lebanon election campaign kicks off

By Hala Boncompagni , Middle East Times

BEIRUT --  Campaigning kicked off on May 16 for parliamentary elections in Lebanon as former civil war foes formed unlikely political alliances.

The influential head of the Maronite Church, meanwhile, reiterated calls for efforts to ensure that the polls are representative of Lebanon's different sects.

In a move seen by the press as a step toward the first genuine attempt at national reconciliation since the end of the 1975-90 civil war, Druze chief Walid Jumblatt and Sunni leader Saad Al Hariri joined forces with former foes.

Jumblatt and Sitrida Geagea, wife of the jailed leader of the disbanded Lebanese Forces Christian militia, Samir Geagea, have formed an alliance and announced a joint electoral list, pledging to "turn the page on the past".

Lebanon's parliamentary polls kick off with three uncontested seats in Beirut

BEIRUT: Lebanon's parliamentary elections kicked off ahead of schedule over the weekend as three uncontested seats in Beirut returned Druze, Shiite and Maronite MPs ahead of official polls which begin in less than two weeks.

Solange Gemayel, the widow of slain president and Christian warlord Bashir Gemayel, was given  Beirut's only Maronite Christian seat after sitting MP Ghattas Khoury, a member of the parliamentary bloc of slain former Prime Minister Rafik Hariri, withdrew to allow her to join the candidate list of Hariri's son, Saad.

The third Maronite candidate, Beirut municipal council member Georges Tyan, also withdrew yesterday morning leaving Gemayel the sole candidate.