A statement by the Ministry of Finance…this is what it says

During its session held on January 7, 2025, the Council of Ministers of the Lebanese Republic unanimously approved the decision to suspend the right of the Lebanese state to make defenses of the passage of the deadlines that apply to the claims of holders of Eurobonds issued by it, in accordance with New York State law or any other deadlines, whether contractual or otherwise. This is until March 9, 2028. The Council of Ministers also authorized the Minister of Finance to take all necessary or appropriate measures to implement this decision, including amending the terms of Eurobond issues.

Finance Minister Youssef Khalil stated, “Despite the difficult times we are living in, Lebanon remains committed to reaching a consensual and fair solution regarding the restructuring of Eurobonds. By extending the time limits, the holders of these bonds will not be forced to take legal action due to the expiration of the time limits, until they participate in an orderly and consensual restructuring of these bonds.”