Lebanese anger at the economy intensifies as political deadlock persists

Lebanese anger at the economy intensifies as political deadlock persists

BEIRUT (Reuters) – Protesters blocked some roads in Lebanon for a second day on Wednesday after the currency’s fall to a new low once again infuriated a population long horrified by the country’s financial crisis.

People stand outside a store in Bourj Hammoud, Lebanon on March 3, 2021. REUTERS / Mohamed Azakir

Over the past year, Lebanon has seen a popular uprising against its political leaders, state and banking system bankruptcy, a COVID-19 pandemic and, in August, a massive explosion that killed 200 people. and destroyed parts of Beirut.

The financial crisis has destroyed jobs, prompted warnings of growing hunger and excluded people from their bank deposits.

Lebanese President Michel Aoun said in a tweet that he had asked the governor of the central bank to investigate the reasons for the country’s latest currency drop and stressed that returning access to deposits was a goal. major.

“The main priority remains the reimbursement of depositors’ money … Illicit and suspicious practices are the main reason for the loss of a large sum of deposits,” said a statement.

The collapse of the Lebanese pound, which fell to 10,000 to the dollar on Tuesday, reduced its value by about 85% in a country heavily dependent on imports.

It was the last straw for many people who have seen the prices of consumer goods such as diapers or grains almost triple since the onset of the crisis. Protesters burned tires and trash cans in many parts of Lebanon to block roads on Tuesday evening.

HARSH …Source

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