The entrance of the Association of Banks in Lebanon (ABL) in Beirut. (Credit: Archive photo NNA)
BEIRUT — The Association of Banks in Lebanon (ABL) plans to sue the Lebanese state for unpaid interests associated with eurobonds – U.S.-denominated debt instruments – held by various member banks, according to a Feb. 13 circular leaked on social media in recent days.“The board of directors held a meeting on Feb. 10, 2025 ... during which a decision was taken by eurobond-holding banks highlighting the necessity to file a lawsuit against the Lebanese government to safeguard their rights and the rights of bondholders at their institutions, in light of the tight deadline and ahead of March 9,” read the circular. Read more The Lebanese state wants to undergo a transformation, but has no money A way to impose pressure?Opinions over the association’s move are now split, as the country has yet to begin negotiations to restructure its debt...
BEIRUT — The Association of Banks in Lebanon (ABL) plans to sue the Lebanese state for unpaid interests associated with eurobonds – U.S.-denominated debt instruments – held by various member banks, according to a Feb. 13 circular leaked on social media in recent days.“The board of directors held a meeting on Feb. 10, 2025 ... during which a decision was taken by eurobond-holding banks highlighting the necessity to file a lawsuit against the Lebanese government to safeguard their rights and the rights of bondholders at their institutions, in light of the tight deadline and ahead of March 9,” read the circular. Read more The Lebanese state wants to undergo a transformation, but has no money A way to impose pressure?Opinions over the association’s move are now split, as the country has yet to begin negotiations to...