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France 24
France 24
World
NEWS WIRES

Lebanese depositors storm banks amid historic economic crisis

Protestors stage a sit-in outside an LGB Bank branch, which was held up by a depositor seeking access to his own savings, in Beirut, Lebanon on September 16, 2022. © Mohamed Azakir, Reuters

Lebanese depositors, including one armed with a hunting rifle, broke into at least four banks Friday to demand their trapped savings, a sign of growing chaos in the small Mediterranean nation amid a historic economic meltdown.

Friday’s raids were the most in a single day, and raised the possibility that more desperate depositors would try to extract their money by force. The break-ins reflect public anger at the banks’ strict informal controls on cash withdrawals, a byproduct of the financial crisis.

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