Lebanon’s government held crisis talks Friday as the currency plummeted to a record low on the black market, leading to a night of angry protests. President Michel Aoun announced after the meeting that the central bank would begin injecting dollars into the market in an attempt to strengthen the pound. The country is entering the worst recession in a decade with the Lebanese pound down 70% from its official rate. Protests on Thursday night saw roads blocked across the country and security forces working together to use tear gas against protesters. Demonstrators chanted slogans of national unity, with many pointing fingers at the financial sector. Read more: Syrian currency crisis: Idlib facing the next catastrophe Protesters shout slogans in Beirut “Thief, thief, Riad Salame is a thief,” some protesters chanted, referring to the governor of the central bank. Hundreds of protesters in Beirut targeted the central bank. Many accuse Salame and the political class of being corrupt and incompetent. Prime Minister Hassan Diab duly chaired an “urgent” cabinet meeting, also attended by Salame and representatives of the country’s money changers. Following a second meeting at the presidential palace, The presidency tweeted images of members of the central bank taking oaths at the presidential… Read full this story
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