Lebanese Pound Plunges More, People Back to Streets

A woman counts US dollar bills at her home in Buenos Aires, Argentina August 28, 2018. REUTERS/Marcos Brindicci
A woman counts US dollar bills at her home in Buenos Aires, Argentina August 28, 2018. REUTERS/Marcos Brindicci
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Lebanese Pound Plunges More, People Back to Streets

A woman counts US dollar bills at her home in Buenos Aires, Argentina August 28, 2018. REUTERS/Marcos Brindicci
A woman counts US dollar bills at her home in Buenos Aires, Argentina August 28, 2018. REUTERS/Marcos Brindicci

The rise of the US dollar exchange rate against the Lebanese Lira has brought protesters in the north and south of Lebanon back to the streets.

On Thursday, the exchange rate of 1USD was equal to LBP8,800 after it was stable for the past weeks at around LBP8,000 and LBP8,500.

In Sidon (south of Lebanon), protesters gathered at Masaref Street to express objection to the chaotic rise of the US dollar exchange rate and the deterioration in living and economic conditions.

In Tripoli, protesters went down to Sahet al-Nour, or Light Plaza, and shouted slogans against the politicians’ practices.

They called on the politicians to resign and affirmed that their protests will not stop during the lockdown imposed due to the pandemic.

The protesters urged the officials to provide the basic necessities for the people whose living conditions would deteriorate during the lockdown.

The deterioration of the Lebanese lira exchange rate against the dollar coincides with the biggest economic crisis that Lebanon has ever encountered. It led to the scarcity of the US dollar, which is needed to import most consumption goods.

This situation is likely to aggravate with the plan to lift subsidies provided by the Central Bank of Lebanon, therefore increasing the number of people living in poverty.



Some Gaps Have Narrowed in Elusive Gaza Ceasefire Deal, Sides Say

Israeli tanks take a position, amid the ongoing conflict in Gaza between Israel and Hamas, near the Israel-Gaza border, as seen from Israel, December 22, 2024. REUTERS/Amir Cohen
Israeli tanks take a position, amid the ongoing conflict in Gaza between Israel and Hamas, near the Israel-Gaza border, as seen from Israel, December 22, 2024. REUTERS/Amir Cohen
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Some Gaps Have Narrowed in Elusive Gaza Ceasefire Deal, Sides Say

Israeli tanks take a position, amid the ongoing conflict in Gaza between Israel and Hamas, near the Israel-Gaza border, as seen from Israel, December 22, 2024. REUTERS/Amir Cohen
Israeli tanks take a position, amid the ongoing conflict in Gaza between Israel and Hamas, near the Israel-Gaza border, as seen from Israel, December 22, 2024. REUTERS/Amir Cohen

Gaps between Israel and Hamas over a possible Gaza ceasefire have narrowed, according to Israeli and Palestinian officials' remarks on Monday, though crucial differences have yet to be resolved.

A fresh bid by mediators Egypt, Qatar and the United States to end the fighting and release Israeli and foreign hostages has gained momentum this month, though no breakthrough has yet been reported.

A Palestinian official familiar with the talks said while some sticking points had been resolved, the identity of some of the Palestinian prisoners to be released by Israel in return for hostages had yet to be agreed, along with the precise deployment of Israeli troops in Gaza.

His remarks corresponded with comments by the Israeli diaspora minister, Amichai Chikli, who said both issues were still being negotiated. Nonetheless, he said, the sides were far closer to reaching agreement than they have been for months, Reuters reported.

"This ceasefire can last six months or it can last 10 years, it depends on the dynamics that will form on the ground," Chikli told Israel's Kan radio. Much hinged on what powers would be running and rehabilitating Gaza once fighting stopped, he said.

The duration of the ceasefire has been a fundamental sticking point throughout several rounds of failed negotiations. Hamas wants an end to the war, while Israel wants an end to Hamas' rule of Gaza first.

"The issue of ending the war completely hasn't yet been resolved," said the Palestinian official.

Israeli minister Zeev Elkin, a member of Prime Minister Benjamin Netanyahu's security cabinet, told Israel's Army Radio that the aim was to find an agreed framework that would resolve that difference during a second stage of the ceasefire deal.

Chikli said the first stage would be a humanitarian phase that will last 42 days and include a hostage release.

HOSPITAL

The war was triggered by Hamas' Oct. 7, 2023 attack on southern Israel. Israel's campaign against Hamas in Gaza has since killed more than 45,200 Palestinians, according to health officials in the Hamas-run enclave. Most of the population of 2.3 million has been displaced and much of Gaza is in ruins.

At least 11 Palestinians were killed in Israeli strikes on Monday, medics said.

One of Gaza's few still partially functioning hospitals, on its northern edge, an area under intense Israeli military pressure for nearly three months, sought urgent help after being hit by Israeli fire.

"We are facing a continuous daily threat," said Hussam Abu Safiya, director of the Kamal Adwan Hospital. "The bombing continues from all directions, affecting the building, the departments, and the staff."

The Israeli military did not immediately comment. On Sunday it said it was supplying fuel and food to the hospital and helping evacuate some patients and staff to safer areas.

Palestinians accuse Israel of seeking to permanently depopulate northern Gaza to create a buffer zone, which Israel denies.

Israel says its operation around the three communities on the northern edge of the Gaza Strip - Beit Lahiya, Beit Hanoun and Jabalia - is targeting Hamas militants.

On Monday, the United Nations' aid chief, Tom Fletcher, said Israeli forces had hampered efforts to deliver much needed aid in northern Gaza.

"North Gaza has been under a near-total siege for more than two months, raising the spectre of famine," he said. "South Gaza is extremely overcrowded, creating horrific living conditions and even greater humanitarian needs as winter sets in."