Lebanese banks reopen partially after weeklong closure

By KAREEM CHEHAYEB
Associated Press

BEIRUT (AP) — Banks in crisis-hit Lebanon have partially reopened following a weeklong closure amid a wave of heists and protests. The banks only opened a handful of branches on Monday and only welcomed commercial transactions by appointment. Anxious Lebanese citizens huddled around ATM machines, truing to withdraw cash. In 2019, the banks have imposed strict limits on withdrawals, tying up the savings of millions of people. Lebanon has since battled an economic meltdown, which has plunged three-quarters of the population into poverty, while the Lebanese pound lost 90% of its value against the dollar. The Association of Banks in Lebanon says the partial reopening will continue indefinitely until they can secure the safety of bank employees.