The Lebanese resistance movement Hezbollah has expressed its support for the government’s decision not to pay looming Eurobond maturities due on Monday, emphasizing that the measure secures liquidity and prevents bankruptcy in the heavily indebted state.
Negotiations to restructure Lebanon's foreign currency debt should not last more than nine months if well-intentioned, the economy minister told a local broadcaster, as the country headed for its first sovereign default.
People in Lebanon have held a protest rally near the US embassy in capital Beirut to express their dissent against American President Donald Trump's Middle East plan, known as the so-called deal of the century, on Israeli-Palestinian conflict.
Lebanon’s finance minister urged the country’s banks on Friday to reduce interest rates in order to help the economy and offered reassurances that bank deposits would not be touched as the country wrestles with a financial crisis.
The White House has been dealt stinging blows following the massive march in Iraq against the presence of US troops in the country as well as the formation of a new government in Lebanon, says a senior official from the Lebanese resistance movement, Hezbollah.
The United Nations says violence caused by “strange groups” in Beirut seems to be politically driven in an attempt to undermine security and stability in Lebanon, which has faced anti-government protest rallies for the past three months.