Lebanon faces debt default as $1.2 billion bond set to mature

March 9, 2020 – Beirut, Lebanon, Asia, Middle East - Lebanon is set to default on its sovereign debt as a $1.2 billion foreign currency bond comes up for maturity on Monday. The heavily indebted state announced on Saturday it could not meet upcoming debt repayments due to a major financial crisis that has sunk the local currency, denied savers access to their deposits and stoked unrest.
​