Lebanon protests – level 3
On Wednesday, Lebanese security forces fired teargas at hundreds of protesters, mostly retired members of the security forces, who gathered near government buildings in Beirut in anger at deteriorating economic conditions.
The country’s economic meltdown, described by the World Bank as one of the worst in recent global history, has plunged most of the population into poverty. Many of the protesters were retired servicemen whose army pensions have lost most of their value, and depositors locked out of their savings by cash-strapped banks.
Lebanese banks have imposed draconian withdrawal restrictions since the collapse of the Lebanese pound in 2019, which locked depositors out of their life savings and infuriated Lebanese. The currency plunge has been devastating for people working in the public sector and it has triggered price hikes on imported fuel, food, and other basic foods.
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What measures have the government taken to address the ongoing economic crisis and what are the prospects of economic recovery for Lebanon?
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