by middleeastmonitor.com -- The Lebanese Parliament approved the government on Thursday to continue in its caretaker capacity under the Constitution, Reuters reports. The announcement was made following a parliamentary session that discussed a letter by outgoing President Michel Aoun concerning the sacking of the government. Parliament Speaker, Nabih Berri, confirmed the decision which was unanimously approved. Caretaker Prime Minister, Najib Mikati, said Sunday that his government will continue its duties in accordance with the Constitution. Aoun's term as President ended Monday, amid a continued political deadlock in Lebanon.

The Speaker of the House of Representatives read out the text of the position taken by the House of Representatives, unanimously in the audience, after listening to Aoun’s message on the issue of forming the new government and after discussing it in accordance with the rules of procedure.

ByKAREEM CHEHAYEB Associated Press -- BEIRUT -- Lebanon is unable to put its new exchange rate into effect after its outgoing president declared the state budget unconstitutional and refused to sign off on it, officials said Thursday. The Finance Ministry in late September announced that Lebanon would change its pegged exchange rate to the dollar from 1,500 pounds to 15,000 starting Nov. 1, which they called a “necessary corrective action." Parliament passed the cash-strapped country's 2022 national budget in September, which included the amended rate. However, it took at least another week of bureaucracy before reaching President Michel Aoun's office. Passing the 2022 state budget and unifying Lebanon’s several exchange rates are some of the prerequisite reforms needed to reach an International Monetary Fund-approved recovery plan to make the country viable again. The government has adopted several exchange rates for different services outside of the official rate, most recently for phone and internet bills, while an opaque parallel - or black - market rate has been the the dominant exchange rate, resulting in further chaos in the country's economy.

The Lebanese pound was pegged at just over 1,500 pounds to the dollar in 1997 to encourage investor confidence and to stall hyperinflation after its 15-year civil war. The economy has since struggled following years of political paralysis and turmoil. Ex-housekeeper sues Jeff Bezos, claims discrimination By late 2019, the country started to spiral into what the World Bank says is one of the worst economic crises in over a century. Three-quarters of the population have plunged into poverty and the Lebanese pound lost around 90% of its value against the dollar on the black market. Aoun’s six-year term ended on Oct. 31. His refusal to sign off on the budget means it will automatically pass and go into effect later this month. Government and economic advisors familiar with the matter say Aoun's inaction was intentional.

By William Christou — english.alaraby.co.uk — Lebanon’s Speaker of the House, Nabih Berri, cancelled on Wednesday a previous invitation for Lebanon’s major …

Lebanese Interior Minister Bassam Mawlawi    by AFP — BEIRUT: Lebanese security forces seized over five million captagon pills hidden inside construction …