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Protesters back on the streets in Lebanon

Lebanese protesters used sandbags and bricks Monday to block a main street outside the country’s central bank, protesting financial policies they say deepened a liquidity crunch.

Lebanon is facing its worst economic crisis in decades, with the local currency losing over 60% of its value to the dollar over the last weeks while sources of foreign currency have dried up. Meanwhile, banks imposed informal capital controls limiting withdrawal of dollars and foreign transfers in the country that relies heavily on imports of basic goods.

Panic has set in among residents who fear their deposits are in danger. Nationwide protests for three months have failed to pressure politicians to form a new government to institute drastic reforms.


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