Lebanese government extends Eurobond statute of limitations for three years

During Tuesday's Cabinet meeting at the Grand Serail, caretaker Prime Minister Najib Mikati approved a decision extending the statute of limitations on Lebanon's Eurobonds by three years, setting the new deadline for March 9, 2028. These dollar-denominated debt instruments were issued by the Lebanese state, which defaulted on them in March 2020 under Hassan Diab’s government. Read more Behind recent 'yo-yo' of Lebanese lira interest rates: A short-sighted monetary policy L'Orient-Le Jour reviewed the minutes released after the meeting, which was held just two days before a pivotal parliamentary session on Thursday aimed at breaking the two-year stalemate over the Lebanese presidency.The decision applies to all securities issued by Lebanon. Specifically, decision no. 30, dated Jan. 7, 2025, suspends the statute of limitations defense...