Hundreds of people, mostly retired members of security forces have gathered near government buildings in the capital of Lebanon to protest against deteriorating economic conditions. Lebanese officers have fired tear gas at the protestors.
The crowds gathered on Wednesday in central Beirut carrying Lebanon’s tricolor or flags with the logos of security forces. The protest was called for by retired soldiers who have limited access to their savings due to informal capital controls imposed by local banks amid Lebanon’s financial crisis. The financial crisis in Lebanon is the worst in the country’s modern history. The pound hit a new low on Tuesday, selling for over 143,000 pounds to the dollar, the official rate is 15,000 pounds to the dollar. Lebanon is in the fourth year of a deep economic crisis due to decades of corruption and mismanagement by the political class that has ruled the country since the civil war that ended in1990.
Read More: Lebanese take to streets as anger over economic meltdown grows
