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Coronavirus policy response, Lebanon’s debt decision

The coronavirus outbreak in MENA has intensified and governments are stepping up policy support to deal with the economic fallout. And OPEC+ looks set to deepen oil output cuts. Elsewhere, Lebanon’s cabinet will meet on Saturday to decide whether to pay a $1.2bn Eurobond due on Monday. The political classes seem to be coalescing around the idea of not making the payment, although the government is making a last-ditch attempt to strong-arm local banks to cooperate with plans to avert a default.

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