Record Lebanese Currency Devaluation Sparks Demonstrations

Protesters took to the streets blocking roads and burning tires as the Lebanese currency hit a record low of 10,000 Lebanese pound to the US dollar, on Tuesday. 

The financial crisis has sparked protests in capital Beirut and across the country as the currency slumped 85 percent below its exchange rate. 

Citizens are struggling with unemployment with some having no access to their bank accounts, amidst the country’s import-dependent economy. 

Lebanon has seen a mounting debt after government leaders were not able to come up with a plan following the critical drop of the currency in 2019.

Meanwhile, a statement on the Twitter account of Lebanese President Michel Aoun said, “President Aoun has asked the central bank governor to hand the results of the investigation to the public prosecutor,” regarding the collapse on Wednesday.

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