At CCC+, Lebanon is the lowest-rated country monitored by Standard & Poor’s. It is two notches away from default and deemed more risky than Ecuador, Bolivia and Grenada, all rated B–.
General government debt in Lebanon stands at 170% of GDP. The country’s banks hold about 75% of that debt, of which $20 billion is in local currency and $21 billion in foreign currency.
Over the past three years, the Lebanese pound has been remarkably resilient in the face of a series of political crises. But as political stalemate persists, Standard...
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