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Hezbollah Scolds Banks in Lebanon's Latest Brush With Crisis

Lebanon's Economy During Political Uncertainty
Photographer: Sima Diab/Bloomberg
Updated on

From retired soldiers fighting for their pensions to striking central bank staff, few in Lebanon feel they’ll be spared what the government is touting as the most austere budget in their country’s history.

One of the world’s most indebted nations has little time to spare after decades of fiscal overreach and mismanagement of public finances. But the cabinet is only expected to approve a much delayed budget on Monday, according to Industry Minister Wael Abu Faour, the same day that a $650 million Eurobond matures and more than three months after a new government was formed.