Protesters In Beirut Storm Three Bank Offices, Set Tires On Fire

Protesters in the Lebanese capital, Beirut, have attacked three banks and set car tires on fire as the country continues to cope with an economic crisis which has been dragging for years, a Sputnik correspondent reported on Thursday

BEIRUT (UrduPoint News / Sputnik - 16th February, 2023) Protesters in the Lebanese capital, Beirut, have attacked three banks and set car tires on fire as the country continues to cope with an economic crisis which has been dragging for years, a Sputnik correspondent reported on Thursday.

These actions were prompted by the closure of banks and the appreciation of the dollar against the national currency, amid the economic and political crises in Lebanon.

Banks in Lebanon are often attacked by angry depositors. In late September 2022, they managed to seize at least 10 bank offices, and some protesters were able to receive cash from their deposits.

In most cases, dissatisfied clients threatened bank employees with toy weapons.

For more than three years, Lebanon has been mired in a deep financial and economic crisis, which has been accompanied by political and social tensions. Against this backdrop, the banking system has been almost completely paralyzed, and the national currency depreciated more than 20 times against the dollar. As a result, more than 70% of the population has fallen below the poverty line.