Lebanon can’t ‘bear the brunt’ of debt: PM Diab

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(VOVWORLD) -In a televised address to the nation, Lebanese Prime Minister Hassan Diab declared the suspension of a bond payment of 1.2 billion USD due on Monday, saying foreign currency reserves had hit dangerously low levels and were needed to meet basic needs.
Lebanon can’t ‘bear the brunt’ of debt: PM Diab - ảnh 1Lebanese Prime Minister Hassan Diab 

Diab said Lebanon's public debt of 92 billion USD had reached around 170% of GDP, meaning Lebanon was close to being the world's most heavily indebted nation. Diab said the debt has become bigger than Lebanon can bear, and bigger than the ability of the Lebanese to meet interest payments, adding that in the current situation the state cannot pay the coming maturities.

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