• tl;dr botB
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    11 year ago

    tl;dr:

    Protesters in Lebanon have rallied in front of the central bank to demand the removal of capital controls that prevent them from withdrawing their savings and for the bank’s governor to be held accountable for the worsening economic crisis. List 1 of 4 France issues arrest warrant for Lebanon’s central bank chief. List 4 of 4 Protesters in Lebanon vandalise banks, demand their money back. Lebanon’s extraordinary economic breakdown became apparent in October 2019 when the central bank suddenly imposed capital controls, capping withdrawals and preventing most Lebanese from transferring money overseas. In February, the central bank confirmed a new official exchange rate of 15,000 pounds per US dollar, scrapping the rate of just more than 1,500 pounds at which the currency was pegged for decades before it collapsed.


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