Lebanon hopes to meet foreign bondholders in coming year, finance minister says

Business and Finance
Source: (remove) : Reuters
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Lebanon hopes to meet foreign bondholders in coming year, finance minister says

^{Published on 2025-04-15 17:41:54 - Reuters}

Lebanese officials hope to meet international bondholders to talk about restructuring debt in the next 12 months but are not planning any meetings at the World Bank/IMF Spring meetings next week, finance minister Yassin Jaber said on Tuesday. Jaber spoke to Reuters just days before travelling to Washington for the Spring meetings - one of the biggest gatherings for financial policy makers and investors - where Lebanon will seek to show it has made progress on economic reforms to address the underlying causes of its financial crash. Lebanon's economy began unravelling in 2019 after years of corruption and profligate spending by the country's ruling elite, and tipped into a sovereign default on its $31 billion of outstanding international bonds in March 2020.

Lebanon is engaging with foreign bondholders to discuss a potential restructuring of its $30 billion in Eurobonds, as the country faces severe economic challenges. The government, led by caretaker Prime Minister Najib Mikati, is working to finalize a plan to address its debt, with a meeting planned for next week to discuss the details. This comes as Lebanon grapples with a financial crisis, high inflation, and a significant depreciation of its currency, prompting the need for international support and a sustainable debt solution.

Read the Full Reuters Article at:
[ https://www.yahoo.com/news/lebanon-hopes-meet-foreign-bondholders-141725333.html ]

N@N

Lebanon hopes to meet foreign bondholders in coming year, finance minister says