Lebanon weighs debt restructuring ahead of March payment

BEIRUT: Lebanon is weighing restructuring its debt including $1.2 billion in Eurobonds maturing in March as part of a comprehensive economic and financial rescue plan to be drafted with the support of the International Monetary Fund, sources told Annahar.Speaker Nabih Berri had called for the formation of a committee that brings together Prime Minister Hassan Diab and the ministers of economy and finance along with legal and financial experts to request "technical assistance" from the IMF in this regard.Lebanon is currently staring down the barrel of a gun, faced with the difficult decision to either pay the Eurobond maturing in March or default on its debt obligations for the first time in its history. Half of the March maturity is owned by foreign entities. What is certain, however, is the necessity for any scenario to be a part of a broader,...