Beirut, May 9, (dpa/GNA) – Dozens of Lebanese protesters attacked a major bank in the central district of the nation’s capital on Tuesday, amid anger over a deepening economic crisis and the devaluation of the local currency against the dollar.
Protesters smashed the windows of Audi Bank, one of the biggest banks in the country, burned tyres and blocked roads to protest against the continued limits imposed on Lebanese savers’ ability to withdraw their money.
“Banks like Audi and others are stealing our money and we will escalate our moves to get what is rightfully ours from them,” shouted one protester.
Witnesses in the area said the bank’s security staff attacked the protesters to prevent them from smashing the cash machines.
One witness said at least five protesters were seen with blood running down on their faces and on their hands.
The protesters, who are mainly angry savers, also tried to reach the heavily-guarded residence of caretaker premeir Najib Mikati in downtown Beirut.
Banks in Lebanon have applied very strict withdrawal limits on foreign currency assets since 2019, when Lebanon’s worsening economic crisis.
The curbs mean many people’s savings are frozen, leaving most struggling to make ends meet. Most Lebanese have deposits in banks in the US dollar.
Banks have insisted that they do not have hard currency to pay every depositor in full.
Since the beginning of the year, the Lebanese pound has fallen to a record low against the dollar and was trading at more than 94,000 to $1.
Before the crisis, the Lebanese pound used to trade at 1,500 against the dollar.
The Lebanese currency has lost more than 90% of its value since 2019.
GNA