Lebanon’s debt-to-GDP ratio currently stands at 160 percent. After the default, many analysts said the International Monetary Fund (IMF) is Lebanon’s only hope to secure financial support.

A default on Lebanon’s foreign currency debt will mark a new phase in a crisis that has hammered the economy since October, slicing around 40% off the value of the local currency. The crisis-hit country won't pay a $1.2 billion Eurobond which is due next month. The country’s sluggish economy was a key cause of the nationwide protests which have wracked the country since October last year. Lebanon is highly likely to default on a $1.2 billion, 10-year eurobond that matures March 9. 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. Lebanon is set to default on its debts for the first time on Monday as its foreign currency reserves plummet to critically low levels. BEIRUT, Lebanon — Lebanon will default on $1.2 billion in foreign currency debts coming due on Monday, the prime minister said Saturday, as the country lurched deeper into an economic crisis that has set off widespread antigovernment protests and left the country grasping for a … Debt-default showdown looms as Lebanon freezes bond payment Lebanon freezes $1.2 billion bond payment, seeks restructuring of $90b debt Lebanon leadership opts for debt default The suspension sets Lebanon on course for a sovereign default if it cannot. Debt default would mark a … On March 9th Lebanon did not repay a $1.2bn Eurobond, the first sovereign default in the country’s history. A CURRENCY CRISIS has done what years of sectarian bloodletting could not. Beirut: Lebanon appeared Saturday to be headed for its first debt default as top officials indicated they opposed making an upcoming bond repayment amid a spiralling financial crisis. In Lebanon, default is 'virtually certain' after stark credit downgrades Published Mon, Feb 24 2020 9:12 AM EST Updated Mon, Feb 24 2020 9:19 AM EST Natasha Turak @NatashaTurak A default on Lebanon's foreign currency debt will mark a new phase in a crisis that has hammered the economy since October, slicing around 40% off … Lebanon’s public debt stands at around 170% of annual gross domestic product, making it one of the world’s most heavily indebted states. Lebanon is to default on a foreign debt payment for the first time in its history as the country struggles with a major financial crisis. News Lebanon to default on debt amid financial unrest. Lebanon's caretaker finance minister has asked the central bank governor to hold off on a proposed swap of 2020 Eurobonds after ratings agencies warned it could constitute a selective default… Lebanon looks set to announce on Saturday it cannot make upcoming dollar bond payments and wants to restructure $31 billion of foreign currency debt, sources said, unless a last-minute deal with creditors is found to avoid a disorderly default. Even if it makes that payment, the country's finances are near collapse.