Lebanon’s crippled economy hobbles into new year (Kareem Chehayeb, Al Jazeera)

January 7, 2022

For more than two years, people in Lebanon with United States dollar accounts in the country’s banks have faced severe restrictions on withdrawals, as hard currency dried up and the value of the Lebanese pound plummeted. So when Lebanon’s central bank issued a directive last month more than doubling the exchange rate for Lebanese pound withdrawals on dollar deposits, chaos ensued.

In one bank, staff and security struggled to hold down the entrance door, as retired and off-duty soldiers barged through to withdraw savings at the more favourable rate. One off-duty soldier in military garb crawled under their legs to get inside.

Lebanon’s crippled economy hobbles into new year | Business and Economy News | Al Jazeera

Marco Emanuele

Marco Emanuele è appassionato di cultura della complessità, cultura della tecnologia e relazioni internazionali. Approfondisce il pensiero di Hannah Arendt, Edgar Morin, Raimon Panikkar. Marco ha insegnato Evoluzione della Democrazia e Totalitarismi, è l’editor di The Global Eye e scrive per The Science of Where Magazine. Marco Emanuele is passionate about complexity culture, technology culture and international relations. He delves into the thought of Hannah Arendt, Edgar Morin, Raimon Panikkar. He has taught Evolution of Democracy and Totalitarianisms. Marco is editor of The Global Eye and writes for The Science of Where Magazine.

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