July 27, 2021

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Record depreciation of the currency, conflicts in two major cities

Angry protesters tried to attack central banking institutions in two major cities of the country: Tripoli and Saada, on Saturday evening, June 26, the national news agency ANI reported. These protests follow a further record decline in the national currency, the Lebanese pound, on the black market.

The two stockbrokers interviewed by Agencies France-Presse (AFP) indicate that the dollar is trading at 17,500 Lebanese pounds on the black market. One-third is presented at 17 17,300, while on social media, some users have gone so far as to talk about 18,000.

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In Tripoli (north of the country), dozens of protesters marched to denounce the currency. “Hard Living Conditions”, According to ANI. The protesters reached out “Tear off the iron gate of the Bank of Lebanon branch and enter the outer courtyard”, Further “The army stopped them” According to the same source, reach the building.

According to an AFP correspondent, protesters set fire to the portal of Cheryl in the northern governor’s seat, while other protesters gathered in front of two houses of parliament and tried in vain to force the passage. Of the guards. “As protesters approached the house of MP Mohammad Kabara, gunfire was heard, causing a stampede,” he said. The army intervened (…) Keep the protesters away ”, According to the ANI agency.

In Chad (South), several protesters tried to attack a Bank to Liban company before being repulsed by police, according to ANI.

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One of the worst global crises since 1850

Since the beginning of the crisis – one of the worst in the world since 1850, according to the World Bank – has occurred in the fall of 2019, when the Lebanese pound has fallen against the greenback. Ten days ago, it was at an all-time high, with the black market exchange rate rising to 15 15,500 per dollar. The official rate seen over two decades is still set at 50 1,507 per dollar.

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The crisis is currently compounded by fuel shortages, which are causing endless lines in front of gas stations. According to the UN, the country is experiencing an explosion in unemployment and inflation, which soon led to large-scale poverty.

While the country commemorates the first anniversary of the eruption at the port of Beirut that killed more than 200 people, the new government has been waiting months to form.

World with AFP