Lebanon isolated, international banks cut ties

Foreign lenders including HSBC and Wells Fargo are cutting ties with Lebanon’s central bank, sources familiar with the matter told Reuters, underlining the country’s international isolation as it reels from economic crisis.

Foreign banks turned cautious on Lebanon when the government defaulted on its debt last year, becoming even more wary as its currency crashed and a standoff over the make-up of a new government deepened in recent months, dashing hopes for a revival of funding talks with the International Monetary Fund.