BEIRUT Lebanon's plan to tackle a financial and economic crisis will meet IMF recommendations and will be ready in weeks, the finance minister said on Thursday, adding that any recourse to an IMF programme must be politically agreed and its terms should not cause suffering.
BEIRUT, March 12 Lebanon's plan to tackle a financial and economic crisis will meet IMF recommendations and will be ready in weeks, the finance minister said, adding that any recourse to an IMF programme must be politically agreed and its terms should not cause suffering.
BEIRUT After importing medical supplies to Lebanon for 20 years, Hassan Hamdan shut his business in December. Sales were plummeting, clients couldn't pay, and the dollars he needed to buy imports had dried up. Now he drives an Uber.
BEIRUT Outside a bank in Lebanon's capital, dozens of people line up every morning long before the doors open, hoping to extricate whatever little cash the limits allow this week.
BEIRUT Lebanon is waiting for bondholders to decide whether they will cooperate in a debt restructuring or take the country to court after its move to suspend a $1.2 billion bond repayment due on Monday, the economy minister told Reuters.
BEIRUT Lebanon is waiting for bondholders to decide whether they will cooperate in a debt restructuring or pursue legal action against the country following its move to suspend a foreign currency debt repayment, the economy minister said on Monday.
BEIRUT Lebanon announced it cannot meet its debt payments and halted a March 9 bond payment of $1.2 billion on Saturday, setting the heavily indebted state on course for a sovereign default as it grapples with a major financial crisis.
* As financial crisis deepens, Lebanon set for sovereign default
BEIRUT Lebanon's state prosecutor suspended an order on Thursday to freeze the assets of 20 local banks, warning it would plunge the country and its financial sector into chaos, according to a copy of the decision seen by Reuters.
ISTANBUL/BEIRUT Turkey shot down two Syrian warplanes over Idlib on Sunday and struck a military airport well beyond its frontlines in a sharp escalation of its military operations following the death of dozens of Turkish soldiers last week. | Video
Canadian Prime Minister Justin Trudeau's wife, Australia's minister for home affairs and a Chelsea soccer player are among new cases of the coronavirus that has infected almost 135,000 people and killed more than 4,900 worldwide.