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Lebanon to settle debts to contractors in four instalments

The Lebanese contractors association has said the government has promised to pay the state's outstanding debts to contractors in four instalments before the end of 2013, The Daily Star has reported. "We have agreed with the Finance Ministry to settle the outstanding dues in four instalments before the end of this year," said Fouad al-Khazen, who headed the association's delegation that met with caretaker finance minister, Mohammed Safadi. "The ministry will give advance payments from the Treasury for projects that were allocated for the contractors in 2011 and 2012," said al-Khazen.