Lebanese protest central bank chief as pound hits new low

Lebanese protesters blocked roads and burnt tires near the central bank in Beirut as the weakened local currency plummeted to a new low against the dollar.

Since 2019, Lebanon has been in the throes of an economic crisis dubbed by the World Bank as one of the worst in recent global history, pushing much of the population into poverty.

Alaa Kharchib of the Depositors' Outcry Association that had organised the demonstration warned of an impending "social explosion".

Lebanese banks have imposed draconian restrictions on withdrawals since the country's economy collapsed three years ago, essentially cutting off people from their savings and prompting public anger.

Dozens of protesters gathered near the central bank headquarters amid heavy deployment of security forces.

Protesters chanted slogans lambasting long-time central bank governor Riad Salameh, one of several officials widely blamed for Lebanon's economic demise, and burnt images of him.

Salameh is under an international investigation in Europe on suspicions of financial misconduct including money laundering and embezzlement.

The Lebanese pound has already lost more than 95 percent of its value since 2019.

As the local currency nosedived, fuel prices have soared, reaching about $19 for 20 litres of petrol.

Lebanon's economic woes have been exacerbated by mounting political troubles.

The country has been effectively leaderless for months, without a president and ruled by a caretaker cabinet.