Protests in Lebanon’s capital over worsening economic crisis

Last week, the local currency reached 1,650 pounds to the dollar. (File photo: AP)

Hundreds of Lebanese are protesting in the country’s capital an economic crisis that has worsened over the past two weeks, with a drop in the local currency for the first time in more than two decades.

Some of the protesters in Beirut’s downtown blasted Lebanese political leaders on Sunday, blaming them for widespread corruption in the country of four million.

Lebanon has one of the highest debt ratios in the world standing at $86 billion – or more than 150 percent of the country’s gross domestic product.

Last week, the local currency reached 1,650 pounds to the dollar at exchange shops after it had been stable at 1,500 since 1997.

The protesters gathered Sunday in the central Martyrs Square then marched toward the government headquarters where riot police were deployed.
 

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Last Update: Wednesday, 20 May 2020 KSA 10:00 - GMT 07:00
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