Khalil Says Steps Needed after Lebanon Rating Downgraded

W460

A report by Moody's Investors Service that downgraded Lebanon's long-term investment ratings reflects the need for quickly forming a new government and implementing reforms, caretaker Finance Minister Ali Hassan Khalil said on Tuesday.

Khalil's statement came in a tweet after Moody's downgraded the Lebanon's issuer ratings to Caa1 from B3. The outlook was changed to stable from negative.

Moody's said its decision reflects the heightened risk that the government's response to increased liquidity and financial stability risks will include "a debt rescheduling or other liability management exercise that may constitute a default under Moody's definition."

Lebanon's economy has been under pressure with a debt of $85 billion equal to 150 percent of its GDP and little growth.

Making things worse, the country has been without a government since May.

Comments 5
Thumb doodle-dude 22 January 2019, 17:11

lol @'Steps Needed'

Thumb galaxy 22 January 2019, 17:17

Khalil Says Steps Needed after Lebanon Rating Downgraded

for sure and that includes executing the whole lot of you.

Thumb s.o.s 22 January 2019, 18:22

You beat me to it.

Missing thatisit 22 January 2019, 17:28

steps needed -- where do we start ..here is a quick 5 for non starters
1. remove you and all incompetent staff like you from government
2. eradicate corruption ..meaning removing you and your likes from government
3. Collect government fees and taxes from your followers and of course hizn alleh
4. stop stealing and that means jailing you and most of your militia style staff
5. you just can't have it both ways -- it is either Lebanon or Khoumaini /assad? what do you do?

Thumb shoo-yaba 22 January 2019, 20:28

L3ama, $85 billion?? WTH did the country spend all this money on? I know for sure you all filled your pockets, but damn!! If you and others want to fix this debt and issues, then everything has to be public, just like civilized countries - Show us where the money is being spent on and have private auditors (since you are all 7aramiyye) to scrutinize the spending. If you can't do that, then there are no steps to take and have the public and Moody and any other firm trust you or the Lebanese government. Honestly I don't why I even comment here, useless and makes us all Lebanese sad