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Lebanon to Restructure Debt Amid Spiraling Financial Crisis
March 8th, 2020 - 08:20 GMT

Lebanon to Restructure Debt Amid Spiraling Financial Crisis

Lebanon said on Saturday it would default on its Eurobond debt for the first time and seek out restructuring agreements amid a spiraling financial crisis that has hit foreign currency reserves. But Prime Minister Hassan Diab said that foreign currency reserves have fallen to "a worrying and dangerous level which pushes the Lebanese government to suspend payment of the March 9 Eurobond maturity because of a need for these funds." ...
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