Page 6 - MEOG Week 24

MEOG Commentary MEOG

Tourism would provide an injection of we demanded on 17 October [2019, when pro-
much-needed foreign currency into Lebanon’s tests erupted in Lebanon] did not get achieved,”
heavily import-dependent economy. An acute a demonstrator in Beirut, Manal, told Reuters.
shortage of US dollars has pummelled the Leb- “They got us a prime minister who is worse than
anese pound, which has lost some 70 per cent of the one before.
its value since August on the parallel and black “Today, the dollar has reached 7,000 Leba-
markets nese pounds. We can’t afford to eat or pay rent
or anything like that. We will stay here until the
The reality dollar rate goes down and until all our demands
This positive news in the energy and tourism are met.”
sectors is all very well but the latest of a spate of Whereas for the first few months, protests
street protests threatens to overtake things – and called for political change, now they are driven
quickly. by despair over hunger. Unemployment is high
Over the past week the number of street and most Lebanese who do work are paid in local
protests has escalated and their focus has wid- currency which has lost its value, making food
ened from taking aim at the government for its and other basic goods unaffordable for many
mishandling of the economy to include sectar- families. Many say the mood reminds them of
ian clashes between Sunni and Shia. This latter the period before Lebanon imploded into civil
development brings an echo of the civil war war in 1975 and the worry is about what happens
which erupted in 1975 and clearly adds another next as tensions continue to spiral.
unstable element to the mix. As a further worry – and sign that the country
In the northern city of Tripoli, soldiers is descending out of central control, there have
deployed to try to restore calm were pelted with been attacks on the sizeable Armenian commu-
rocks thrown by protesters. Petrol bombs were nity has come under attack from pro-Turkish
also hurled at banks, which have been blamed elements in the country.
for Lebanon’s financial troubles. Already host to pro-Iranian paramilitaries,
In central Beirut, some of the protests which the last thing Lebanon needs is to become a bat-
began on Thursday night turned into clashes, as tleground for President Erdogan’s aspirations for
protesters blocked roads outside parliament and Turkey to be an Ottoman powerhouse over the
set fire to banks. Demonstrators hurled Molotov Arab world.
cocktails and rocks at the security forces, who Calls for the government to resign have been
responded with tear gas. Many roads outside increasing and in the present situation Leba-
Beirut are still blocked. non’s infant steps to have an oil and gas presence
“We came down to the streets because all that appear to be a sideshow.™

P6 www. NEWSBASE .com Week 24 17•June•2020