On Friday, angry Lebanese demonstrated in front of the Central Bank of Lebanon, burning tires and demanding their deposits, which the state seized, while other protesters attacked branches of other banks in Beirut and other cities.
The severe financial and economic crisis began in Lebanon more than three years ago, while depositors are unable to withdraw their money amid an unprecedented collapse of the lira, as the dollar in the parallel market became equivalent to about 100,000 Lebanese pounds after the official exchange rate was equivalent to 1,500 pounds.
The demonstrators used fireworks and fired them at the headquarters of the Banque du Liban, without causing actual damage.
“I want my money today,” said Hosam Mashmoushi, one of the demonstrators. “Otherwise, we are going to a dangerous, dangerous escalation.”
And the Lebanese who have accounts in US dollars can withdraw very limited amounts from their deposits, but in the local process, the pound, according to the official exchange rate, which is equal to about 15,000 pounds, which means a huge loss compared to the actual price of the dollar in the markets.
Lebanon collapsed economically in 2019, and its crisis constitutes the largest economic crisis in modern history, founded on years of mismanagement, looting and corruption practiced by the ruling political class.
Lebanon went through a civil war from 1975 to 1990, but nevertheless, some Lebanese say that the current situation has never been so bad, as three quarters of the Lebanese today live below the poverty line.
The tiny country has a population of about 6 million people, including Syrian and Palestinian refugees.
