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Lebanon to default on financial obligation payments for very first time

Byindianadmin

Mar 8, 2020
Lebanon to default on financial obligation payments for very first time

A protester takes part in anti-government demonstrators in Beirut, Lebanon, 11 February 2020 Image copyright
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Anti-government protesters have been out on the streets for month amid Lebanon’s monetary crisis.

” The debt has actually ended up being bigger than Lebanon can bear, and larger than the ability of the Lebanese to meet interest payments,” Mr Diab said.

The Lebanese pound has been losing value versus the dollar for months, in part because the nation’s banks have actually been reluctant to conv

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