Lebanon approves financial, legal advisers on debt restructuring-government source

Lebanon has given approval for asset management company Lazard to be its financial adviser on debt restructuring, a government source said on Tuesday, with the heavily indebted state facing a major financial crisis.

The approval was given during a cabinet meeting on Tuesday. Approval was also given for law firm Cleary Gottlieb Steen & Hamilton LLP to act as the government's legal adviser, the source said.