Outrage over haphazard bank regulations, as black market surges
- Commercial banks continue to employ haphazard policies, with Bank Audi's depositors unable to withdraw dollars from paychecks issued after January 2020. Protesters demonstrated angrily outside the main Bank Audi branch in Bab Idriss while Bank Audi denies the claims.
- The black market exchange rate hiked to 2,500 LBP today. Meanwhile, Duty Free in Rafic Hariri's International Airport set the dollar-LBP exchange rate at 2,100 LBP.
Financial Prosecutor charges exchange dealers
- State Financial Prosecutor Ali Ibrahim State Financial Prosecutor Ali Ibrahim has pressed charges against 17 money exchange dealers in Beirut for violating exchange laws and selling dollars at a rate significantly higher than the official one of 1,507 LBP.
IMF team to arrive tomorrow amidst Eurobonds commotion
- IMF experts will arrive tomorrow to offer technical assistance to Lebanon. Lebanon will invite eight firms to bid for consultations on whether to pay or default on its 1.2 billion Eurobonds. Firms include Rothschild & Co, Guggenheim Partners, Citibank, Lazard, JP Morgan, PJT Partners, Moelis & Company and Houlihan Lokey.
- Parliament Speaker Nabih Berri stated today that Lebanon's best solution is to restructure its debt. Separately, Head of the Association of Banks in Lebanon Salim Sfeir stated after meeting with Prime Minister Hassan Diab that if Lebanon is to restructure its debt, it should be done in an "orderly" manner. Sfeir added that foreign investment funds are ready to discuss debt restructuring.
Icon of Lebanon's revolution summoned to military court
- Malak Herz, a protester who was captured kicking MP Akram Chehayeb's bodyguard on October 17, has been called into the military court. The photo of Herz went viral immediately after, embodying the revolution's relentless spirit in the face of repression.
- Herz's husband reported this on his Facebook account, writing that she was summoned to court over said photo.
Beach tents removed in Tyre
- Tyre's residents protested the municipality's forced removal of tents lining up the city's public beach. Reasons for the removal of the tents remain unclear.
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