We are starving Libyan protests that exacerbate the economic crisis
We are starving Libyan protests that exacerbate the economic crisis. Outraged demonstrators took to the streets of the capital of Lebanon on Tuesday. Blocking roads with flaming tires and waste bins. As the money began to collapse into the lowers of all times and the financial crisis increased. Protest resumed and fed up by the screaming of Ahmad Shuman. Small groups of young men, some on scooters, pelted windows with stones and asked them to close in another Beyrouth district, in an obvious effort to widen indignation and compel shuts.
After October 2019, the monetary union lost 90 percent of the value, including more than 25 percent in recent weeks alone, as anti-government demonstrations erupted. In a nation that imports more than 80% of its raw commodities, inflation, and basic goods prices have spread. Meanwhile, senior leaders have failed to work together to form a new coalition to carry out the necessary changes to remove the country from the crisis.
More than half of the economy has the poor result of the currency crash:
More than half of the economy has the poor result of the currency crash. It also drained external reserves, creating fear that the central bank in Lebanon would not be able in the coming weeks to fund subsidies for certain basic goods, including petrol. However, legislators have accepted $ 200 million of central bank support to go to the electricity company in Lebanon from dwindling foreign reserves. This transfer shall cover the next few weeks’ purchases of fuel so that the nation cannot plunge into darkness.
Since the civil war 1975-90, the crisis represents the most serious danger to the security of Lebanon. Last week, the French Minister of Foreign Affairs told Lebanon that. It was out of time before the complete breakdown, placing square blame on the representatives of the country whose failure to unite to form a coalition has escalated the crisis. Moreover, Department Speaker Jalina Porter said, the US is worried about Lebanese trends. Similarly, the country’s perceived inactivity as leaders of many ongoing crises, speaking to reporters in Washington on Monday.
Lebanon’s leaders must set aside their partisan brinkmanship. And create a coalition that implements crucial and long-lasting changes effectively to restore investor trust and rescues the economy. In August after a major Beirut harbor blast that killed 211 people, injured over 6,000 people, and devastated entire districts in the capital, Lebanon’s cabinet resigned. Differences have stalled the forming of a cabinet between President Michel Aoun and Premier Saad Hariri. In October, Hariri was selected for the role.
