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Lebanese banks reopen as protesters demand trapped savings

Monday, 26 September 2022 5:44 PM [ Last Update: Monday, 26 September 2022 5:44 PM ]

Mariam Saleh
Press TV, Beirut

The crisis-hit Lebanon is once again a scene of angry masses. The parliament is back to meet and debate a new budget. Yet protesters see the budget being discussed as illusive.

Banks reopened partially on Monday following a weeklong closure in the wake of a wave of hold-ups. Depositors stormed at least seven bank branches in the capital and abroad demanding their trapped savings.

One woman named Sally Hafez forced one branch to give her 13000$ of her savings saying she needed it to pay for her sister’s medical treatment. But he didn’t take back her money on her own.

A former member of parliament tells PressTV that the government has been procrastinating while time is running out and the governmental institutions including schools are almost out of service.

Lebanon's economic downfall began in October 2019. The Lebanese pound has lost about 90% of its value against the US dollar. But officials have failed to put in place the necessary reforms.

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