Beirut (AFP)

Lebanese banks, which are operating at a slow pace due to the new coronavirus epidemic, will stop providing dollars to their customers until the airport reopens, a source at the Association of Banks in Lebanon.

Lebanon, where the greenback is used in the same way as the Lebanese pound, has known for months about a shortage of dollars which has led to a depreciation of its national currency on the parallel market, against a background of acute economic crisis.

Until now, dollar withdrawals have been subject to strict restrictions, with some banks capping them at $ 100 per week.

"From now on, the banks will stop supplying dollars to their customers," assured AFP an official of the Association of Banks in Lebanon, speaking on condition of anonymity.

"Like petroleum and food products, dollars are imported from abroad and this is no longer possible with the closure of the airport due to the new coronavirus," said the source.

Contacted by customers, two banking establishments confirmed the suspension of dollar withdrawals.

The closure of Beirut International Airport, scheduled until April 12, is part of the measures adopted by the authorities to combat the spread of the epidemic.

Exceptions to this closure are provided in particular for members of diplomatic missions, international organizations and freight aircraft.

Customers with dollar accounts can withdraw the desired amounts in Lebanese pounds, at the official rate of 1,500 pounds for one dollar, while the black market rate now reaches 2,700 pounds for one dollar.

Lebanon experienced an unprecedented uprising against the political class in October, but the banks have also found themselves in the sights of protesters, who accuse them of complicity with the government and point their finger at their responsibility for the failure of the country's monetary policies .

The spread of the Covid-19 disease raises fears of dire consequences for an already struggling economy.

Lebanon, which is collapsing under a debt of 92 billion dollars, or 170% of the GDP, is facing its worst economic and financial crisis since the end of the civil war (1975-1990).

Authorities are forecasting negative growth of 12% this year, coupled with inflation of more than 25%.

To fight against the new coronavirus, Lebanon has imposed containment measures on the population, and the closure of all businesses, except essential businesses.

Banks have substantially reduced their activities, limiting the number of branches open and banking operations, while supplying ATMs.

On Monday, endless lines formed in front of distributors across the country, noted an AFP photographer.

© 2020 AFP