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Lebanon on verge of debt default, barring last-minute deal

Lebanon looks set to announce Saturday it cannot make upcoming dollar bond payments and wants to restructure $31 billion of foreign currency debt, sources said, unless a last-minute deal with creditors is found to avoid a disorderly default. Debt default would mark a new phase in a...

Lebanon's financial prosecutor freezes assets of 20 banks

Lebanon’s financial prosecutor froze the assets of 20 Lebanese banks, their top bosses and board members as part of a probe, state media and judicial sources said on Thursday. Local banks are at the heart of a financial crisis crippling Lebanon as the clock runs down on its looming debt...