Alwaght- Former Lebanese Prime Minister Najib Mikati is poised to be designated Premier on Monday after winning the support of most major parties to form a new government.
Earlier, a club of former Lebanese Sunni prime ministers said on Sunday that they endorsed the choice of Mikati, who held the post twice, in yet another attempt to bring Lebanon's political deadlock to an end.
Among Mikati's endorsers was veteran politician Saad al-Hariri, who abandoned his effort to form a new government last week after nearly 10 months of failing to agree its makeup with President Michel Aoun.
A senior political source told Reuters most of the country's main parliamentary blocs agreed on designating Mikati. Unlike many Lebanese leaders, he does not hail from one of the many political dynasties but is one of the country's most successful entrepreneurs.
Hezbollah and its ally, the Amal movement led by parliament speaker Nabih Berri, were expected to name Mikati, the source added.
Aoun was expected to designate Mikati later in the day once he ends consultations with parliamentary blocs on Monday.
The president is required to nominate the candidate with the biggest level of support among members of parliament.
The Lebanese pound plunged to a new record low again on Saturday afternoon, trading at LL17,950 to the dollar on the black market, English-language newspaper the Daily Star reported.
The national currency has now lost more than 90 percent of its value since October 2019 as the Lebanese economy crumbles under the weight of sanctions.
The crisis has worsened in recent weeks with the central bank cutting back on financing imports with subsidized dollars.
Lebanon’s economic and financial crisis is the gravest threat to the country’s stability since the 15-year civil war ended in 1990.
The crisis is mostly linked to the sanctions that the United States and its allies have imposed on Lebanon as well as foreign intervention in the Arab nation’s domestic affairs.
Sanctions have arguably become the US’ weapon of choice to combat its rivals and Lebanon is on the front lines of the growing financial war waged by the US.
