English Situation Report on Lebanon about Food and Nutrition, Health, Epidemic, Technological Disaster and more; published on 16 Mar 2021 by ACT Alliance
We Are Hungry - Violent Protests Erupt As Lebanon Hyperinflation Accelerates zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.
Eurobonds default: a one-year anniversary
Is Lebanon running out of options?
It has been one year since the Lebanese government defaulted
on a USD 1.2 billion Eurobonds issuance that was due on March 9
th
2020. One year on, negotiations with Eurobond holders have still not begun, and
no good faith discussions with the International Monetary Fund (IMF) have been
engaged in order to help negotiate a financial aid package and also on engaging
stakeholders.
The default on the payment, the first in Lebanon’s history, resulted in a default on all Eurobonds issuance, due to specific clauses in the Eurobonds issuances: should a default on a Eurobonds issuance occur without agreeing on restructuring terms with 75 percent of the holders of this issuance, this would trigger a default on all outstanding Eurobonds, which totals USD 31.3 Billion, of which USD 11 billion are held locally by Lebanese banks.
Lebanon: Insecurity and desperation as crisis worsens
People in Lebanon are increasingly desperate amid the political deadlock, the financial meltdown, rising poverty and COVID-19.
People in Lebanon are increasingly desperate as the economic crisis continues to worsen
The current all-time low of the Lebanese currency known as the pound or the lira has riled people all over the country. They have been pouring into the streets for more than a week now, taking the country to the brink of a revolution.
Protesters are desperate as the government has for years failed to tackle the devaluation of the currency, poverty rates and the plummeting economy.
Lebanese dread end to subsidies as economic crisis bites yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.