Sun 14 June 2020:
Hundreds of demonstrators angered by a deepening economic crisis rallied across Lebanon for a third consecutive day on Saturday, after violent overnight riots sparked condemnation from the political elite.
The protests come after two days of rallies spurred by a dramatic collapse of the local currency against the dollar. Some of those rallies degenerated into violence, including attacks on private banks and shops.
The local currency, pegged to the dollar for nearly 30 years, has been on a downward trajectory for weeks, losing more than 60 percent of its value. But the dramatic collapse this week deepened public despair over the already troubled economy.
Lebanese media reported that the exchange rate had tumbled to 6,000 per dollar on the black market early on Friday, compared with the official peg of 1,507, in place since 1997.
Lebanon is heavily dependent on imports, and the dollar and local currency have been used interchangeably for years.
The unparalleled economic and financial crises are proving a major challenge to the government of Prime Minister Hassan Diab, who took office earlier this year after his predecessor resigned amid nationwide anti-government protests.
Soon after taking office, Diab was faced with handling the coronavirus pandemic, which put the country in lockdown for months, further compounding the crisis.
Diab’s government is supported by the powerful armed group Hezbollah and its allies, but has already been weakened by the economic crisis.
Neemat Badreddin, a political activist, described the government as captive to the interests of political groups and not the public.
“This current government proved to be a failure,” said Badreddin, wearing a face mask featuring the Lebanese flag with its green cedar tree in the centre.
“We want a new government … we want stability and we want to be able to live without begging or without people having to migrate.”
Protesters in Beirut carried a banner that read “There is an alternative”.
In the southern city of Sidon, some directed their wrath at the central bank governor. One protester raised a banner that called him the “protector of all thieves in Lebanon”.
In the northern city of Tripoli, army troops forcefully dispersed dozens of protesters who had blocked the road preventing trucks from moving forward, according to videos posted online.
The protesters allege the trucks were smuggling goods to Syria – a common complaint in Lebanon as the neighbouring country grapples with its own economic hardships. Later, Lebanon’s customs authorities said in a statement that the trucks were transporting UN aid destined to war-torn Syria.
The Lebanese Red Cross said it treated nine people wounded in Tripoli.
Lebanon – one of the most indebted countries in the world, with a sovereign debt of more than 170% of GDP – went into default in March. Unemployment has soared to 35% nationwide.
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