Newsletter Newsletters Events Events Podcasts Videos Africanews
Loader
People in Beirut protest as the value of Lebanon's currency hits a new low

Video. Protestors in Beirut demand reforms as currency tumbles

Updated:

Lebanon's currency has lost more than 90 per cent of its value in a crisis that began in 2019. Protestors took to the streets of Beirut on Tuesday to demand reforms.

Angry protesters hurled rocks and set tyres alight in front of Lebanon's Central Bank in Beirut on Tuesday, denouncing the slide of the country's currency, which began in 2019.

The value of the pound hit a new low, trading at 50,000 to the US dollar, as the country’s deeply divided Parliament failed to elect a president for the eleventh time.

Protesters were calling for reforms in the country’s financial sector, but the government and divided parliament have stalled implementing changes after reaching an agreement last year.

Lebanon's currency, once valued at 1,500 for 1 US dollar, has lost over 90% of its value.

ADVERTISEMENT
ADVERTISEMENT

Latest video

ADVERTISEMENT
ADVERTISEMENT