Lebanon, mired in economic crisis

Lebanon, mired in economic crisis

A man jogs near a cordoned off area which is almost empty of residents and tourists, officially closed following the government's measures to help stop the spread of the coronavirus, in Beirut, Lebanon, Monday, Aug. 3, 2020. AP













Lebanon is suffering its worst economic crisis in decades, marked by an unprecedented plunge of its currency, which has left nearly half of the population in poverty.

The financial collapse has led to mass layoffs and salary cuts in a country already rocked since late 2019 by mass protests against a political system seen as corrupt and incompetent.

Here are the key moments in the spiralling crisis.

- Dollar shortages -

Anxiety about a dollar shortage flares on September 29 last year when hundreds of people take to the streets of central Beirut to protest economic hardship.

Among the worst hit are petrol station owners who need dollars to pay fuel suppliers. Media report that banks and exchange offices are limiting dollar sales for fear of running out.

- Tax on WhatsApp -

A government proposal to tax free online messaging apps such as WhatsApp, made on October 17, is the last straw.

Thousands take