Wanted in Paris: $17 Billion to Rescue a Pivotal Mideast Nation - Bloomberg

Wanted in Paris: $17 Billion to Rescue a Pivotal Mideast Nation - Bloomberg:

"Lebanon will appeal in Paris on Friday for the billions of dollars it needs to turn around one of the world’s most indebted economies and stabilize a critical corner of the Middle East.

Delegates from 41 nations, including Western and Arab powers, will gather with officials from the World Bank, International Monetary Fund and other organizations to discuss funding a seven-year wish-list of Lebanese proposals priced at $17 billion. The projects range from waste-water plants to transport links and power-grid upgrades.

The conference, hosted by French President Emmanuel Macron, comes as Lebanon faces some daunting challenges. It’s teetering under public debt equivalent to 150 percent of gross domestic product -- the third-biggest burden globally -- while hosting 1.5 million refugees from Syria’s war, and being buffeted by the duel between regional rivals Saudi Arabia and Iran. The meeting will be followed by another in April focusing on refugees."



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