financial crisis
World Bank approves cash assistance to crisis-struck Lebanon
Middle East
January 13, 2021
World Bank approves cash assistance to crisis-struck Lebanon
BEIRUT (AP) — The World Bank approved a $246 million loan to Lebanon to provide emergency cash assistance to nearly…
Hezbollah leaders tell French president to change approach
Middle East
September 30, 2020
Hezbollah leaders tell French president to change approach
BEIRUT (AP) — The leader of the militant Hezbollah group said Tuesday they still welcome the French initiative to help…
Aoun warns Lebanon going to hell unless government agreed
Middle East
September 21, 2020
Aoun warns Lebanon going to hell unless government agreed
BEIRUT (Reuters) – President Michel Aoun warned on Monday Lebanon was going “to hell” if a new government could not…
Turkey crunch would pack only weak punch for emerging markets
Economy
May 13, 2020
Turkey crunch would pack only weak punch for emerging markets
LONDON (Reuters) — Turkey could be heading for another financial crunch but its diminished importance for investors in developing economies…
UN urges governments to tackle recession, scrap debt payment
World
April 10, 2020
UN urges governments to tackle recession, scrap debt payment
UNITED NATIONS (AP) — More than 60 UN agencies and international organizations urged governments on Thursday to take immediate steps…
Coronavirus delivers tough blow to Lebanon’s dying economy
Middle East
March 26, 2020
Coronavirus delivers tough blow to Lebanon’s dying economy
BEIRUT (AP) — Through 15 years of civil war and various bouts of violence since, Lebanon’s Barbar eatery never closed…
Lebanon to stop paying back all debt in foreign currencies
Middle East
March 24, 2020
Lebanon to stop paying back all debt in foreign currencies
BEIRUT (AP) — Lebanon will stop paying all maturing Eurobonds in foreign currencies amid a crippling economic and financial crisis…
Lebanon’s Hezbollah won’t oppose IMF aid under ‘reasonable conditions’: chief
Middle East
March 14, 2020
Lebanon’s Hezbollah won’t oppose IMF aid under ‘reasonable conditions’: chief
Lebanon’s powerful Hezbollah movement, which has strongly opposed foreign interference in the country’s crisis-hit economy, said Friday it could accept…
Starved of dollars and drowning in debt, Lebanon’s economy sinks fast
Middle East
March 12, 2020
Starved of dollars and drowning in debt, Lebanon’s economy sinks fast
BEIRUT (Reuters) — After importing medical supplies to Lebanon for 20 years, Hassan Hamdan shut his business in December. Sales…
Exclusive: Lebanon waiting to hear if creditors will cooperate or sue: minister
Middle East
March 9, 2020
Exclusive: Lebanon waiting to hear if creditors will cooperate or sue: minister
BEIRUT (Reuters) – Lebanon is waiting for bondholders to decide whether they will cooperate in a debt restructuring or pursue…