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Middle East

Lebanon banks set for shake-out under sovereign debt revamp

Lebanon’s banks are poised for a major shake-out as a planned restructuring of government debt is set to leave many financial players illiquid, say bankers. Banks are the largest creditors of the government, which is set to default after saying it would stop paying its foreign currency...

Iran asks IMF for first loan in decades to combat virus

Iran said on Thursday that it has sought immediate financial assistance from the International Monetary Fund to help it combat one of the world's deadliest coronavirus outbreaks. According to a tweet by Iran's top diplomat, IMF chief Kristina Georgieva had "stated that countries affected by...