Protests in Lebanon call attention to ailing economic situation

Dozens of people staged street protests in Beirut and other cities across Lebanon on Tuesday to call attention to the dire economic situation gripping the country.

Major roads across Beirut were closed by young men who burned tyres and rubbish bins.

Chanting "people are hungry," the protesters marched through the city, calling for all Lebanese to take to the streets.

The protests came after the Lebanese pound hit a record low against the dollar on the black market and amid severe power cuts nationwide.

The lack of foreign currency has prevented the government from paying for fuel shipments, which led to severe power cuts that in some areas lasted more than 14 hours a day.

On Tuesday, the dollar was trading at a rate of 9,900 Lebanese pounds, the highest record since July.

The Lebanese pound has lost 80 per cent of its value since 2019. 

The economic situation has deteriorated drastically in Lebanon since 2019. It has been exacerbated by the coronavirus pandemic and the August 4 Beirut port explosion, pushing many people into poverty.

The economic crisis gripping the country is the worst since the 15-year civil war that ended in 1990. 

Lebanon has been without a government since Caretaker Prime Minister Hassan Diab resigned on August 10 after the Beirut port explosion. 

Lebanon's prime minister-designate Saad Hariri has failed since October to form a government due to political divisions among the Lebanese rival factions. 

Source: DPA

Thu 15:00
scattered clouds
21.04
°
C
Fri
14.39
mostlycloudy
Sat
18.14
mostlycloudy
Sun
15.24
mostlycloudy
Mon
17.59
mostlycloudy
Tue
18.7
mostlycloudy