Lead Lebanon Negotiator for IMF and Eurobond Restructuring Quits

Lebanon’s lead negotiator for Eurobond restructuring and a key member of the government’s negotiating team with the International Monetary Fund has resigned, Bloomberg News reported. Talal F. Salman, a Harvard graduate who has been serving as an economic adviser to the Finance Ministry for the past six years, submitted his resignation -- effective Monday -- from his position at the United Nations Development Program and the ministry, according to a person familiar with the matter. He’s the third ministry official to quit over Lebanon’s response to its financial crises. Faced with financial losses triple the size of its economy, Lebanon is struggling to stay afloat with dwindling reserves and soaring inflation that reached an annual 112% in June, coupled with a currency crisis. Read more