Unrest is spreading across Lebanon as angry citizens unable to withdraw their own money from the nation’s banks storm their local branches with pistols and Molotov cocktails.

Like some other nations are beginning to do, Lebanon has imposed new limits on how much money depositors are allowed to withdraw from their savings accounts, which is preventing many from purchasing the things they need for survival.

A teetering global economy has many central banks, including that of Lebanon, on edge as they try to prevent bank runs. Since July, more than a dozen depositor-led bank raids have occurred in Lebanon, which faces one of the worst economic crises in history.

More than 75 percent of the country is now below the poverty line as unemployment and inflation soar. Many households are unable to get fuel while others struggle just to keep electricity and water flowing.

Those in need of life-saving medical treatment are having to go without as such procedures are too costly for most. And now the banking crisis is adding more fuel to the fire with a $400 per month withdrawal limit.

Some banks have established an even lower withdrawal limit, while at the same time those with political connections are being allowed to secretly transfer billions of dollars abroad.

https://www.naturalnews.com/2022-12-13-withdrawal-restrictions-lebanon-lead-armed-bank-raids.html