Protests in Lebanon as pound hits new low against dollar

By BASSEM MROUE
Associated Press

BEIRUT (AP) — Protesters have closed down major roads in parts of Lebanon after the Lebanese pound briefly hit a new low amid a historic economic crisis that seemingly has no end in sight. The Lebanese pound Tuesday lost more than 15% of its value, dropping to more than 140,000 pounds to the dollar. A week ago, the dollar was worth 100,000 pounds. The small nation is in the grips of the worst economic and financial crisis in its modern history. It’s rooted in decades of corruption and mismanagement by a political class that has ruled the country since the end of the 1975-90 civil war. The political class has resisted the implementation of reforms demanded by the international community.