Lebanon to stop paying all Eurobonds: Finance Ministry1 min read

English/أعمال وأسواق مالية

Lebanon will stop payments on all its foreign currency Eurobonds, the Finance Ministry said Monday, as the government seeks to devise a rescue plan for the country’s financial crisis.

The the ministry said in a statement that “the government has decided to discontinue payments on all its outstanding U.S. dollar-denominated Eurobonds” and the ministry will hold an investor presentation on March 27.

Lebanon had suspended this month a $1.2 billion Eurobond repayment and declared it could not meet debt maturities due to pressure on foreign currency reserves.