Energy

Lebanon won’t get a bailout, U.S. diplomat says

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Lebanon’s economic situation is facing “immediate catastrophe,” according to a top U.S. diplomat, who said the country’s leaders need to demonstrate the will to reform before any external assistance can take place.

David Hale, who most recently served as the undersecretary of state for political affairs and is now on detail from the State Department at policy institute the Wilson Center, said that Lebanon’s collapse is imminent.

“There’s not going to be any international bailout, but there will be substantial assistance for a reform program,” Hale told CNBC’s Hadley Gamble Wednesday.

Twenty months into Lebanon’s political and economic crisis, the country still remains politically…



Source cnbc.com

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