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Protests Grip Lebanon as Currency Tanks

Posted on the 14 June 2020 by Thiruvenkatam Chinnagounder @tipsclear

Protesters threw stones at military forces and some protesters attempted to climb over a security fence outside the Prime Minister's office in the capital, Beirut. Protesters chanted against the country's political elite, which many hold responsible for the country's economic problems.

Lebanon's main coastal route has been closed by burnt tires in the north and south of the capital, as protests have taken place in areas that rarely see protests, such as Hezbollah bastions in the southern suburbs of the capital.

In the northern city of Tripoli, protesters bombed the army with stones and threw Molotov cocktails at the city's central bank office. Demonstrations also erupted in the southern cities of Saida and Nabatieh.

In recent days, the Lebanese currency has taken a plunge, losing about 70% of its value since October. The collapse of the currency has caused panic in a country that is highly dependent on imports for its basic needs.

Food prices have skyrocketed due to mass layoffs and business closings in recent months. The World Bank has predicted that the poverty rate in Lebanon will reach almost 50% in 2020.

The current Lebanese government, led by Prime Minister Hassan Diab, has been in power for just over 100 days. Protesters accuse him of having done little to alleviate economic problems.

Last October, hundreds of thousands of Lebanese took part in national anti-corruption protests that overthrew the government of former Prime Minister Saad Hariri. Since then, protests have broken out regularly across the country due to falling living conditions and corruption that protesters say is widespread.

Diab, a technocrat who was previously a professor at the American University of Beirut, was appointed Prime Minister by a coalition backed by Hezbollah in December. His cabinet promised far-reaching reforms when they were sworn in in January, but critics say they have largely failed.


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