Lebanon stumbles from one problem to another in trying to dodge debt default
Notes worth $1.2bn mature in five days and the government is coming up with new ideas to avoid not paying
04 March 2020 - 16:08
Beirut — Lebanon’s government is lurching from one extreme solution to another as it wrangles over whether to repay $1.2bn of notes maturing in five days.
In the latest twist of its effort to avoid a default, it may revive an offer for a debt swap with local holders of its Eurobonds. At a meeting with bankers on Tuesday, the finance minister proposed that Lebanese banks swap their entire Eurobond holdings for new debt with lower coupons, said an insider...
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