February 12, 2020 / 10:13 AM / 2 months ago

Lebanon to request IMF technical help -government source

BEIRUT, Feb 12 (Reuters) - Lebanon will ask the International Monetary Fund for technical assistance to draw up a stabilisation plan for its financial and economic crisis, including how to restructure its public debt, a government source told Reuters on Wednesday.

The official request for technical help would be sent to the IMF soon, the source said. “There has been contact with the IMF but Lebanon will send an official request in the coming hours to have a team dedicated to dealing with technical assistance,” the source said.

“Lebanon is ... seeking advice from the IMF on whether to pay the Eurobond maturity amid concerns that any reprofiling of Lebanon’s debt should be conducted in an orderly way to avoid damaging the country’s banking system,” the source said, referring to a $1.2 billion Eurobond maturing on March 9. (Reporting by Samia Nakhoul; Writing by Tom Perry; Editing by Catherine Evans)

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