Protest against worsening economic crisis: Angry protesters attack banks in Lebanon

class=”sc-29f61514-0 jbwksb”>

According to a dpa reporter, they attacked several banks, smashed windows, set fire to tires and vandalized ATMs. There were cries like: “The banks in Lebanon are stealing our money!” With Lebanon running out of foreign exchange, banks have long allowed their customers to withdraw only limited amounts.

“We will not stop until all investors have collected their last dollar from the banks,” said a spokeswoman for the Depositers Outcry Association of the German news agency. The association was founded at the beginning of the recent Lebanese economic crisis in 2019. It supports bank customers in unlocking their savings. Similar demonstrations continue to take place in Lebanon.

Since the end of 2019, the Mediterranean country has been in the worst economic and financial crisis in its history. The country has almost no foreign exchange left. The banks have therefore set strict limits on the withdrawal of foreign currency. As a result, people can no longer access their savings in dollars. Many Lebanese have accounts in US currency.

The crisis is also attributed to decades of corruption in politics and business. The Lebanese currency has lost more than 95 percent of its value. According to the United Nations, three-quarters of the country’s more than six million people live in poverty.

(SDA)

Source: Blick