Lebanon calls for IMF aid as debt default looms

The Bank of Lebanon

Lebanon’s central bank has reduced deposit rates at commercial lenders, as fears grew of a sovereign default and the government asked the International Monetary Fund for aid.

Finance minister Ghazi Wazni said publicly that the government might default on a $1.2 billion eurobond, which is due to be redeemed on March 9. Wazni met with central bank governor Riad Salamé and newly-apponted prime minister Hassan Diab on February 13 for talks on the debt.

Wazni said the three had discussed all

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