The Lebanese Ministry of Finance issued a press release on March 23, 2020 announcing that the government would be suspending all of its Eurobond payments in order to maintain the country’s foreign currency reserves. It is worth noting that earlier this month the Lebanese Prime Minister Mr. Hassan Diab announced that the government would be suspending the payment of the March 9 maturing Eurobonds totaling $1.2 billion in the light of the dwindling foreign currency reserves. The press release reasserted Mr. Diab’s three-tiered economic reform plan of addressing the deficit in public finances through debt restructuring and other measures, promoting economic growth by improving governance and combatting corruption, and reforming the financial sector by restructuring the banking sector. Finally, the statement pointed out that the Government is planning to engage in good faith discussions with its creditors at the earliest possible and that in this regard the Ministry of Finance plans to hold an investor presentation on March 27, 2020. Accordingly, Lazard Frères, Lebanon’s financial advisors, has been instructed to initiate arrangements to facilitate such good faith discussions.