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Lebanon to stop paying back all debt in foreign currencies
Middle East

Lebanon to stop paying back all debt in foreign currencies

BEIRUT (AP) — Lebanon will stop paying all maturing Eurobonds in foreign currencies amid a crippling economic and financial crisis…
Starved of dollars and drowning in debt, Lebanon’s economy sinks fast
Middle East

Starved of dollars and drowning in debt, Lebanon’s economy sinks fast

BEIRUT (Reuters) — After importing medical supplies to Lebanon for 20 years, Hassan Hamdan shut his business in December. Sales…
IMF experts meet Lebanese PM at start of visit
Middle East

IMF experts meet Lebanese PM at start of visit

BEIRUT (Reuters) – A team of IMF experts met Prime Minister Hassan Diab on Thursday at the start of a…
Lebanon finances point to debt restructuring: Fitch Ratings
Middle East

Lebanon finances point to debt restructuring: Fitch Ratings

BEIRUT (AP) — Lebanon’s financial situation points to a likely restructuring of the country’s massive debt and financial sector to…
Lebanon weighs defaulting or paying Eurobond next month
Middle East

Lebanon weighs defaulting or paying Eurobond next month

BEIRUT (AP) — Lebanon’s finance minister said Thursday the country’s new government is weighing whether to pay or default on…
Bail-in or bail-out? Lebanese banks in need of rescue as crisis bites
Middle East

Bail-in or bail-out? Lebanese banks in need of rescue as crisis bites

LONDON (Reuters) – The worst is yet to come for Lebanon’s banks. The old-style way of running the economy –…
Exclusive: Draft of Lebanese financial rescue plan promises ‘painful’ steps
Middle East

Exclusive: Draft of Lebanese financial rescue plan promises ‘painful’ steps

BEIRUT (Reuters) – Lebanon’s new government will look to reduce interest rates and recapitalise banks as part of a broad…
Rolexes and cars; Lebanese spend big to prise savings from the bank
Middle East

Rolexes and cars; Lebanese spend big to prise savings from the bank

BEIRUT (Reuters) – When she heard Lebanese banks would limit cash withdrawals, Rita, a doctor, rushed out to buy a…
Facing humiliating controls, Lebanese focus fury on banks
Middle East

Facing humiliating controls, Lebanese focus fury on banks

BEIRUT (AP) — Before picking up cash from a downtown bank in Lebanon’s capital, Mey Al Sayegh mentally braces herself…
Frustrated Lebanese depositors turn rage on crisis-hit banks
Middle East

Frustrated Lebanese depositors turn rage on crisis-hit banks

BEIRUT (Reuters) — As cash runs short at Lebanon’s banks, so has the patience of depositors. Hit by restrictions on…
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