The Lebanese pound hit a record low against the US dollar on the black market on Tuesday. This is a sign that the country’s numerous crises are worsening and there is no prospect of a new government in the near future.
The crash in the local currency, which led to a sharp rise in prices, sparked small protests in various parts of Lebanon on Tuesday. During the protests, streets were closed with burning tires.
A lack of hard currency has also resulted in delays in the arrival of fuel deliveries, leading to prolonged blackouts across the country, reaching more than 12 hours a day in some areas.
Lebanon is one of the few countries on the planet that is heavily reliant on heating oil and diesel to generate electricity.
The dollar was trading at 9,975 Lebanese pounds …
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