Lebanon announced default on Eurobonds

The Livan government on Saturday decided to delay the repayment of Eurobonds by $ 1.2 billion, the term of which occurs on March 9.

Defolt was announced by the prime minister of the country Hassan Diab. In the appeal, he mentioned that this is the first case in the history of the country since independence gaining in 1943, as well as that Lebanon is a country with one of the highest (170% GDP) debt load.

According to the Al-Maydin television channel, which TASS refers to, the country's authorities will begin negotiations with bond holders in order to restructure the entire external debt that has reached $ 31 billion.

The country's economy has been in a heavy multifactorial crisis since October, during which time the Lebanese pound fell 40%. We wrote about the deep causes and occasion of the crisis here .

According to the Lebanese expert Sharbel Kardahi, the default looks justified against the background of the crisis: having paid such a large amount, the country would lose funds for the import of products and medicines.