Baabda Financial, Economic Meeting 'Supports' Govt. Decisions

An Economic and Financial meeting chaired by President Michel Aoun kicked off at Baabda Presidential Palace on Saturday, media office of the Presidency said on Twitter.

The meeting was held in the presence of Speaker Nabih Berri, PM Hassan Diab, Deputy Prime Minister and Defense Minister Zeina Akar, Finance Minister Ghazi Wazni, Economy Minister Raoul Nehme, Central Bank Governor Riad Salameh and head of the Association of Banks in Lebanon Salim Sfeir, added the presidency.

The meeting comes before a major decision Lebanon plans to announce Saturday on whether it will pay or default on $1.2 billion in Eurobonds maturing on March 9.

Presidency Director General Antoine Choucair read a statement after the meeting.

"Based on the available options, conferees at the financial and economic meeting decided to support the government in whatever option it adopts, except for the payment of the debt maturities," Choucair said.

Cabinet meeting will be held at 1:00 p.m. to decide on the matter.

Diab is expected to make an announcement after the meeting.