The Republic of Lebanon is located on the eastern side of the sea.

mediterranean

North and east connect with Syria.

South contact with Israel

West facing the Mediterranean Sea

Lebanon is a fertile country.

It produces fine fruits such as grapes, olives, citrus fruits, nuts, etc. Lebanon used to be so prosperous that it was known as the Switzerland of the Middle East.

Beirut is an old city on the Mediterranean coast.

It is an important port city since the past.

It is an important trading and financial center of the Middle East.

Beirut's wealth has made it the Paris of the Middle East.

with being a city of commerce for a long time

make the Lebanese trade well

We often meet Lebanese people who are skilled traders.

Whether in Europe, Asia or even Africa

The most prominent is the jewelery trade.

Every time there is a world-class jeweler's fair, we often see Lebanese jewelers standing in their booths offering their products.

Lebanon has been in economic trouble for nearly a decade since before the COVID-19 outbreak.

and the Russo-Ukraine War

It is a problem compounded by the mismanagement of the government.

Lebanon's deficit is very high.

build up public debt

In addition, the government has an unsustainable monetary policy, causing many banks to go bankrupt.

and the Lebanese pound fell to the Great

Lebanon's economic situation has gone downhill.

The World Bank analyzes that

Lebanon is now its worst crisis since the 1800s and the United Nations reports that more than 80 percent of the 6.8 million Lebanese people are affected by rising poverty.

Who would have thought that the former Switzerland of the Middle East

Today, people hardly have anything to eat.

There is a shortage of everything: electricity, energy, clean water, medicines, consumer products.

Health systems, education, etc. 63% of Lebanese people are in poverty.

Earning less than $5.50, or about 200 baht per day, while inflation is as high as 210 percent.

People with money cannot withdraw money from the bank.

Thus causing the flow of robbery itself.

Because since the great economic crisis of 2019, Lebanese banks have adopted a policy of limiting withdrawals.

and if any citizen is approved to withdraw money from their own deposit account

The money received will be in US dollars only.

Your reader

Comparing the Lebanese pound to the US dollar, which is now more than 95 percent depreciated, asks what will be the gain?

apart from money

from the bank's policy

This led a man with a fake (fake) gun to rob a bank in the southern Lebanon city of Gazih in order to withdraw $19,200 from his account, but failed to escape after surrendering himself to police.

This is not the first time armed people have raided banks in order to recover their deposits.

On Friday, September 16, 2022, just one day ago, there were at least 8 similar incidents, and it seems more and more to follow.

The Lebanese Bankers' Association has announced that all financial institutions nationwide will be closed for three days from September 19-21, 2022 for safety reasons.

Earlier, April 5, 2022, Riyad Salameh, Governor of Lebanon's Central Bank.

It had to issue a statement denying news that Lebanon's central bank was bankrupt.

that is not true

Lebanon's governor had to deny it because of Mr. Saad Shami, Deputy Prime Minister of Lebanon.

It broke out that the Lebanese Republic and the Lebanese Central Bank were bankrupt.

and is negotiating with the International Monetary Fund (IMF) for economic assistance.

After the governor of the Lebanese Bank of Lebanon has corrected the news five months ago, it appears that the Lebanese economy has not improved.

The IMF has yet to approve the $3 billion ($110 billion) aid program requested by the Lebanese government.

Only a few years of political conflict and corruption

Make a rich country become a pauper within a few years.

Nitikarun Mingruchiralai