Lebanon: Protesters vandalise bank in Beirut as financial crisis ensues

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Protesters vandalised a Beirut bank facade with graffiti and rocks, on Friday, as the economy continues to spiral.

Lebanon is currently facing what the Central World Bank has called the worst financial crisis the world has seen since 1850. The value of lira, which is pinned to the US dollar, has dropped by more than 90 percent since 2019, while annual inflation was more than 100 percent this year.

“We trusted the private sector, and we put our money in a private bank and this is the time the owners of banks bear responsibility, to return our money or let them put a road map to return our money, these are our demands,” one protester present said.

The newly formed government faces sinking further into recession, which poses the biggest threat to Lebanese stability since the civil war between 1975 and 1990.

SOUNDBITE:

SOT, Protester (Arabic): “After waiting two years to get our money from bank owners, we’re raising our voice and demanding that they make a plan for this situation. This idea of the government supports these banks and tells us to put our money with the state is not acceptable. We trusted the private sector, and we put our money in a private bank and this is the time the owners of banks bear responsibility, to return our money or let them put a road map to return our money, these are our demands.”

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