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Lebanon to Default on Dollar-Denominated Debt

Lebanon said it would default on its dollar-denominated debt, intensifying the Middle Eastern state’s financial...

Lebanon said it would default on its dollar-denominated debt, intensifying the Middle Eastern state’s financial turmoil and setting up a possibly messy negotiation with foreign investors.

Beirut’s failure to honor its massive debt load was long expected and not related to the economic turmoil caused by the coronavirus outbreak. But it comes at a time when the global financial system is on edge.

Lebanon…