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Lebanon's economic recovery prospects 'severely weakened' by upsurge in fighting: S&P Global

Lebanon Economy

03-10-2024 | 09:15

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Lebanon's economic recovery prospects 'severely weakened' by upsurge in fighting: S&P Global

Lebanon's already-fragile prospects of an economic recovery have been "severely weakened" by the escalation in the Israel and Hezbollah conflict, credit rating agency S&P Global said Thursday.

Lebanon has been in a full-blown debt crisis and not been making payments on its international market government bonds since 2020.

"We consider the upsurge in fighting and attacks in Lebanon could persist into 2025 and expand into other parts of the country," S&P said, adding that it would also "further delay economic and financial reforms."

Reuters

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