Third death from coronavirus
- A COVID-19 positive patient, aged 79, passed away today. Meanwhile, seven new cases of COVID-19 were announced, according to Al-Jadeed. Cabinet will release a World Bank loan, valued for 39 million USD, to help government hospitals tackle coronavirus.
Lebanon set to meet International Monetary Fund's (IMF) recommendations
- The IMF stated on Thursday that it awaits Lebanon's economic reform plans. Finance Minister Ghazi Wazni told Reuters soon after that Lebanon will address its financial and economic crisis within weeks, as per the IMF's recommend dations. Wazni stated that the currency peg will be maintained for now to prevent increase in inflation. The cabinet also announced that the price of fuel will be stabilized despite the decrease in oil prices.
Global Ratings Agency downgrades Lebanon's rating to "selective default"
- Standard & Poor's further downgraded Lebanon's sovereign debt in foreign currency from CC/C to default. The agency added that it would cancel this classification of Lebanon exchanges debtor activates restructuring agreements with creditors.
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