March 8, 2020 / 8:32 AM / in 4 months

Lebanon debt restructuring talks expected in about two weeks: source

BEIRUT (Reuters) - Formal debt restructuring talks between Lebanon and its bond holders are expected to begin in about two weeks, a source familiar with matter said on Sunday, after the heavily indebted state declared it could not meet its debt repayments.

Lebanon announced on Saturday it could not meet its debt payments, which include a Eurobond of $1.2 billion maturing on Monday, setting the state on course for a sovereign default as it grapples with a major financial crisis.

Reporting by Tom Perry, editing by Louise Heavens

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