Lebanon does not repay bonds

The Lebanon will not operate next week, bonds. The Prime Minister Hassan Diab announced on Saturday in Beirut in a televised speech. It is Euro bonds of EUR 1.2

Lebanon does not repay bonds

The Lebanon will not operate next week, bonds. The Prime Minister Hassan Diab announced on Saturday in Beirut in a televised speech. It is Euro bonds of EUR 1.2 billion.

It would be the first default in the history of the country. Lebanon is currently undergoing the worst economic crisis since the civil war of 1975 to 1990. The decision was not easy, said Diab. The debt was greater than the country could cope with. The decision was the only way to Finance the needs of the people.

In Lebanon, there had been in the autumn of mass protests against the former government, Prime Minister Saad Hariri resigned as a result. The protesters had him and his government, accused, among other things, reforms abducted and state money wasted. Since mid-January, the country has a new government, which the former education Minister and University Professor Diab protrudes. (Dec/sda)

Created: 07.03.2020, 19:58 PM

Updated Date: 07 March 2020, 19:02

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