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IMF urges Lebanon to quickly enact economic reforms

Hussein Dakroub|- Lebanon should act quickly to implement reforms to stabilize the country’s ailing economy, the International Monetary Fund said Thursday, in the international community’s latest call on the government to move ahead with enacting long-delayed reform measures. The IMF’s call came days after Prime Minister Hassan Diab suspended payment of $1.2 billion Eurobonds that matured Monday and is seeking debt restructuring with foreign creditors because of dwindling foreign currency reserves held by the Central Bank. This is the first time in Lebanon’s history a government decides to default on the payment of its outstanding debts
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