Lebanon’s banking association calls for paying March Eurobond on time

A man heads to the Lebanese central bank, in Beirut, Lebanon, Tuesday, Jan. 22, 2019. (File photo: AP)

Lebanon’s banking association said on Wednesday it was necessary to repay a $1.2 billion Eurobond maturing in March on time to protect depositors and preserve the country’s place in international financial markets.

The association said in a statement that debt restructuring requires time and the assistance of international institutions.

It said very little time remains before the maturity on March 9, which does not allow for preparation and “competent handling.”

Last Update: 10:12 KSA 13:12 - GMT 10:12