It is official now: Lebanon is unable to pay $1.2B eurobond

Eurobonds are external (or international) bonds, which are issued in a currency that is different from that of the issuer (i.e. the country or market issuing them).

Not surprisingly, Lebanon will not be paying its maturing eurobonds (due on March 9, 2020). In other terms, the government of Lebanon has now suspended a $1.2 billion eurobond payment due on Monday.

What will happen next? Time will tell…

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