A majority of Lebanese Parliament members oppose paying looming Eurobond maturities, even if that leads to default, Parliament Speaker Nabih Berri said on Wednesday. The announcement compounded doubts over whether the heavily indebted country will meet a March 9 repayment deadline.
Lebanon is facing an unprecedented economic and financial crisis, which came to a head last year as capital inflows slowed and protests erupted against the ruling elite. Its next debt maturity is a $1.2bn Eurobond due on March 9.
