Lebanon Bond Repayment Wins Time for a Nation in Crisis - Bloomberg:
Lebanon repaid a $1.5 billion Eurobond on Thursday, an official with knowledge of the matter said, buying the country time as speculation swirls over its ability to avoid a default during a political and economic crisis.
The Finance Ministry issued payment instructions to the central bank, also known as Banque du Liban, the official said on condition of anonymity. The next bond payment is scheduled for March, when a $1.2 billion Eurobond comes due.
Lebanon has never defaulted on its obligations despite struggling under one of the world’s biggest debt burdens, and the central bank had repeatedly said it would cover the $1.5 billion bond. But weeks of nationwide protests that ousted the government saw credit risk surge and investor confidence slump.
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