Economics

Lebanon’s Banks Urge Government to Avoid Domestic Debt Default

Banks want to agree a repayment deal with the government
Crisis-hit Lebanon is in talks with IMF for a $10 billion loan

Police line up outside the headquarters of the Lebanese central bank during an anti-government demonstration in Beirut on April 28.Photographer: Hasan Shaaban/Bloomberg

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By Dana Khraiche

May 20, 2020 at 9:36 AM UTC

Updated on

May 20, 2020 at 12:17 PM UTC

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Lebanese banks are urging the government to sell state assets and defer maturities to avoid defaulting on its domestic debt and driving the country’s finances into an even deeper crisis.