August 23, 2019 / 9:08 PM / 3 months ago

Fitch, S&P ratings are reminder of need for Lebanon reforms -finance minister

Aug 23 (Reuters) - Lebanon will overcome crisis and has committed to reforms, the finance minister told Reuters after Fitch downgraded the country’s credit rating to CCC while S&P affirmed it at B-/B on Friday.

Ali Hassan Khalil said the ratings reports served as a reminder of the utmost need for the government to work on enacting reforms. “There should be no slacking for a single moment,” he said.

Lebanese leaders have warned of financial crisis without reforms and the government is seeking to put public finances on a sustainable path after years of backsliding. (Reporting by Ellen Francis in Beirut Editing by Chris Reese)

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