Lebanon Weighs IMF Help Over $1.2 Billion Eurobond Payment

Lebanon needs the help of the International Monetary Fund to draft a rescue plan and decide whether to repay its $1.2 billion Eurobond maturing next month, a local newspaper cited a veteran politician and member of the ruling coalition as saying, Bloomberg News reported. With the country facing its worst financial crisis in decades after months of protests, parliament Speaker Nabih Berri said Lebanon should form a task force comprising the premier, ministers of economy and finance as well as legal and financial experts, Annahar newspaper reported. The committee would begin work in parallel to making a request to the IMF. “We need to send a message to the world, perhaps to the Americans in particular -- given that they’re the most influential and active factor in the International Monetary Fund -- stipulating that Lebanon needs the fund’s technical help for a rescue plan,” the newspaper cited Berri saying. Read more

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