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Moody’s declares Lebanon ‘credit positive’

Lebanon’s possible pursuit of assistance from the International Monetary Fund and World Bank is credit positive and reduces the risk of extreme macroeconomic instability, Moody’s said on Monday.

“Without technical and financial support from the IMF, World Bank and international donors, a scenario of extreme macroeconomic instability – in which a debt restructuring occurs with an abrupt detribalization of the currency peg, resulting in very large losses for private investors – is increasingly likely,” the ratings agency said in a note.

Caretaker prime minister Saad al-Hariri discussed on Thursday the possibility of technical assistance from the IMF and World Bank in drawing up a plan to rescue the economy from a worsening crisis.

Source: Reuters

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