Lebanon “remains fully committed to engage in a constructive, transparent and equitable debt restructuring process with all other stakeholders” the finance ministry statement said

 Markets

Lebanon Resumes IMF Talks And Seeks ‘Fair’ Debt Solution

By 

Dana Khraiche

 

4. Oktober 2021, 11:11 MESZ

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Lebanon has resumed talks with the International Monetary Fund and is committed to seeking a “fair and comprehensive” solution for its creditors, the finance ministry said on Monday. 

Lebanon began bailout talks with the IMF after defaulting on its international bonds in 2020 and drafted a plan to restructure its entire $90 billion debt stock. But there’s been scant progress in the past 18 months due to a prolonged political deadlock. 

Lebanon’s Foreign Creditors Demand Urgent Debt Restructuring 

Lebanon “remains fully committed to engage in a constructive, transparent and equitable debt restructuring process with all other stakeholders” the finance ministry statement said. 

International investors hold a substantial chunk of Lebanon’s Eurobonds and a deal with them is essential if the government is to eventually return to the debt market. 

This story was produced with the assistance of Bloomberg Automatio