Lebanon

Bank Strike Paralyzes the Economy... The Consequences Will Be Serious!

Bank Strike Paralyzes the Economy... The Consequences Will Be Serious!

The banking sector remains steadfast in its decision to go on strike starting tomorrow, Monday. Financial circles have expressed their discontent regarding this strike called by the Association of Banks, questioning through "Al-Anbaa": "Isn't the ongoing strike of public sector employees for the eighth week enough for banks to announce a strike?" These circles believe that "the repercussions of this strike will be significant and detrimental to the country, starting with the rising exchange rate of the dollar, followed by an economic cycle that will practically be paralyzed due to the bank strike, or it will proceed at the pace of the black market with the natural halt of the Sayrafa platform."

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