Lebanese President Michel Aoun, Prime Minister Hassan Diab and Parliament Speaker Nabih Berri started a finance meeting at Baabda Palace Saturday morning ahead of a critical Cabinet session in the afternoon.
The meeting was also attended by Deputy Prime Minister and Defense Minister Zeina Akar, Finance Minister Ghazi Wazni, Economy Minister Raoul Nehme, Central Bank Governor Riad Salameh and head of the Association of Banks in Lebanon Salim Sfeir, added the presidency.
It comes before a major decision Lebanon plans to announce Saturday on whether it will pay or default on $1.2 billion in Eurobonds maturing on March 9.
A Cabinet meeting will be held at 1:00 p.m. to decide the matter.
Diab is expected to make an announcement following the meeting.
Lebanese media reported that the cabinet is widely expected to announce after its session later Saturday that the government will default on its Eurobond debt.
Source: Lebanese media