Edition:
United States

Eric Knecht

Concerns mount as Lebanon struggles to take first steps out of crisis

Jun 16 2020

BEIRUT Lebanon is struggling to take the first steps out of a deep financial crisis, with hopes of reforms getting under way shaken by what government critics say is a sectarian carve-up of state jobs that has shown the political elite's reluctance to change.

Lebanese central bank to inject dollars to stop pound's slide

Jun 12 2020

BEIRUT Lebanon's central bank will begin injecting dollars into the market on Monday, President Michel Aoun said on Friday, as it tries to stop a sharp fall in the local pound currency which has led to economic hardship and sparked unrest.

Lebanon at risk of a major food crisis: PM sounds alarm

May 21 2020

BEIRUT Lebanon's financial meltdown could tip the country into a full-blown food crisis, as people hit by soaring prices and the fallout of COVID-19 become unable to afford even basics like bread, the prime minister warned.

Lebanon banks reject rescue plan as government asks IMF for help

May 01 2020

BEIRUT/LONDON An economic rescue plan that will form the basis of Lebanon's talks with the International Monetary Fund (IMF) was panned by banks on Friday as one that would "further destroy confidence" in the country.

Hard work lies ahead for Lebanon on road to IMF aid deal

May 01 2020

BEIRUT/LONDON, May 1 With a rescue plan that will form the basis of talks for IMF aid finally in place, Lebanon must now enact painful steps and work out how it distributes the costs, with the country's banks likely to be particularly hard hit.

'Plain robbery': Lebanese fume as dollar savings hit by financial crisis

Apr 23 2020

BEIRUT Ziad Abdallah has watched with growing alarm as Lebanon's financial meltdown has threatened the savings he spent 25 years building up in his dollar account.

RPT-Lebanon's creditors divided over draft financial restructuring plan

Apr 10 2020

LONDON/BEIRUT, April 9 Lebanon's international and local creditors are at odds over a draft plan on tackling the country's crippling financial crisis.

Lebanon's creditors divided over draft financial restructuring plan

Apr 09 2020

LONDON/BEIRUT, April 9 Lebanon's international and local creditors are at odds over a draft plan on tackling the country's crippling financial crisis.

UPDATE 2-Lebanon draft crisis plan sees need for $10 bln-$15 bln and depositor contribution

Apr 08 2020

* It says contribution from large depositors also needed (Adds government meeting on Wednesday)

Lebanon import woes deepen as supply chains buckle under coronavirus

Apr 08 2020

BEIRUT Lebanon's food importers, already hit by a dollar crunch, have struggled to book new cargoes as the coronavirus pandemic threatens supplies and sparks fears of even more painful price hikes.

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