A currency devaluation would raise prices for imported goods and erode living standards.

37% Youth unemployment rate. Finding a way out of Lebanon’s crisis: the case for a comprehensive and equitable approach to debt restructuring. February 2020 The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. IMF officials have been called in to help find a solution to manage Lebanon's overwhelming debt amid its worst financial crisis since the 1975-90 Lebanese civil war. Former prime minister Saad Hariri has said the sector will contribute L£5.1 trillion ($3.4 billion) to deficit reduction, including through an increase in the tax on bank profits. 25% Overall unemployment rate.

Mar 5, 2020 BEIRUT — Already beset by inflation, an economic recession and a lack of trust from large segments of the public, Lebanon’s month-and-a-half-old government is now also staring down a debt crisis ahead of a maturing $1.2 billion Eurobond payment due March 9.

150% Debt to GDP ratio. Lebanon has close to $1.5bn in public debt that it may decide to repay on Thursday. Lebanon said on Saturday it would default on its Eurobond debt for the first time and seek out restructuring agreements amid a spiralling financial crisis that has affected foreign currency reserves. 27% Population living below the poverty line.

Lebanon faces race against time to avoid financial collapse International financial institutions say that it is up to the country to restore trust and overcome the current liquidity crisis.

The country's debt rating looks set to drop into … He said "The debt has become more than Lebanon can bear." Lebanon’s fiscal policies are producing large-scale debt and inequality The country depends on imports. The foundations of Lebanon’s crisis were laid three decades ago, when 15 years of fratricidal civil war finally came to an end in 1990.

The Prime Minister expects 40% of Lebanon will soon be under the poverty line. Between 1993 and 2018, Lebanon’s public debt increased from $4.2 billion to $85 billion4—a debt that has been forced on the Lebanese people, and the burden of which Lebanese citizens have been dealing with for years.

News Lebanon to default on debt amid financial unrest.

To put things into perspective—and this is from the IMF report: The crisis-hit country won't pay a $1.2 billion Eurobond which is due next month. Lebanon's economy in crisis. Lebanon doesn’t get much attention from the financial press. Tim … They do not represent the views of their respective employers. Lebanon doesn’t have many bilateral and multilateral loans so even if all those debts were written off it would only reduce the debt burden by 3.5% of GDP according to Capital Economics. Lebanon's government includes representatives of the Iranian-backed militant group Hezbollah.

Lebanon needs to build on the momentum from its outreach to the IMF as one of the world’s most indebted nations faces its worst financial crisis in decades after months of anti-corruption protests.