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Lebanon’s Foreign Creditors Demand Urgent Debt Restructuring

Automobiles queue at gasoline stations in Beirut, Lebanon.

Automobiles queue at gasoline stations in Beirut, Lebanon.

Photographer: Francesca Volpi/Bloomberg
Updated on

International holders of Lebanese debt urged the new government to resume long-delayed efforts to restructure the country’s Eurobonds and said they were ready to work closely with authorities to find a sustainable solution.

The “Ad Hoc Lebanon Bondholder Group” comprises several large institutional holders of sovereign bonds issued by Lebanon. It was formed in March 2020 after Lebanon defaulted on $30 billion of Eurobonds.