debt

Lebanon in ‘final hours before’ declaring it cannot pay its debts: senior MP
Middle East

Lebanon in ‘final hours before’ declaring it cannot pay its debts: senior MP

BEIRUT (Reuters) – Lebanon is in “the final hours before” formally announcing it cannot pay its debts, senior MP Alain…
IMF experts meet Lebanese PM at start of visit
Middle East

IMF experts meet Lebanese PM at start of visit

BEIRUT (Reuters) – A team of IMF experts met Prime Minister Hassan Diab on Thursday at the start of a…
Lebanon finances point to debt restructuring: Fitch Ratings
Middle East

Lebanon finances point to debt restructuring: Fitch Ratings

BEIRUT (AP) — Lebanon’s financial situation points to a likely restructuring of the country’s massive debt and financial sector to…
Bail-in or bail-out? Lebanese banks in need of rescue as crisis bites
Middle East

Bail-in or bail-out? Lebanese banks in need of rescue as crisis bites

LONDON (Reuters) – The worst is yet to come for Lebanon’s banks. The old-style way of running the economy –…
Exclusive: Draft of Lebanese financial rescue plan promises ‘painful’ steps
Middle East

Exclusive: Draft of Lebanese financial rescue plan promises ‘painful’ steps

BEIRUT (Reuters) – Lebanon’s new government will look to reduce interest rates and recapitalise banks as part of a broad…
Egypt jumps 55 places in Open Budget Index: Finance Minister
Business

Egypt jumps 55 places in Open Budget Index: Finance Minister

Egyptian Finance Minister Mohamed Maait announced Monday that Egypt has jumped 55 positions in its budget transparency index the “Open…
Lebanon pays back $1.5 billion Eurobond amid economic crisis
Middle East

Lebanon pays back $1.5 billion Eurobond amid economic crisis

BEIRUT (AP) — Lebanon paid back a Eurobond worth $1.5 billion that was scheduled to mature Thursday, a Finance Ministry…
Mayor says Turkish state banks shut out Istanbul after poll win
Middle East

Mayor says Turkish state banks shut out Istanbul after poll win

ISTANBUL (Reuters) — Istanbul’s new mayor has said Turkey’s state banks stopped making routine loans to the city after a…
Fear, turmoil in Lebanon as its financial crisis worsens
Middle East

Fear, turmoil in Lebanon as its financial crisis worsens

BEIRUT (AP) — On one of Beirut’s main commercial streets, store owners are cutting salaries by half or considering shutting…
Dubai ready to take on more debt if needed: economic adviser
Middle East

Dubai ready to take on more debt if needed: economic adviser

DUBAI (Reuters) – Dubai continues to service its debt and is ready to take on more if needed, an economic…
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