Central Bank: Lebanon's debt rises $1 billion

Lebanon's total public debt rose to the equivalent of $33.9 billion by the end of February from $32.9 billion a month earlier, the Central Bank said in its monthly bulletin.

External public debt comprised $18.99 billion of the total. However, banking sources estimate the debt now stands at $35 billion. In official figures also released Saturday, the bank said Lebanon recorded a $777.4 million balance of payments deficit in the first two months of 2005, compared with a surplus of $203 million in the same period last year. It recorded a $784.6 million deficit in February alone. Banque du Liban said the deficit reflected a drop in its net foreign assets but an increase in those of banks and financial institutions.

German attorney to head Hariri investigation

A German prosecutor has been named by the UN to lead an investigation into the assassination of former Lebanese Prime Minister Rafik Hariri, after the first two candidates for the job backed out.

Detlev Mehlis, the senior public prosecutor in the Berlin attorney general's office, has overseen terrorism and organized crime cases as well as investigations into trans-national crime, Secretary-General Kofi Annan said in a statement.

The Security Council approved the probe into Hariri's February 14 assassination on April 8, but the first two candidates turned down the job, UN officials said. The investigation is expected to include more than 50 people, administrative and security staff are also expected to be included in the investigation.

Preparations for Lebanon polls gather steam

BEIRUT (AFP) - Lebanon began the countdown for legislative polls, with 51 candidates, including the son of slain former premier Rafiq Hariri, competing for 19 seats in Beirut in the first phase of the vote, the interior ministry said.

The vote in Beirut's three districts will be held on May 29, and will continue over the rest of the country on the following three Sundays to choose a 128-seat parliament -- the first since a Syrian troop pullout last month ended 29 years of domination.

Individual candidates in Beirut had until midnight Friday to register and political party leaders are now expected to announce their electoral lists following consultations.

Saad Hariri postpones announcing candidates list for third time
Further consultations to be held

BEIRUT: Saad Hariri, the son of slain former Prime Minister Rafik Hariri, stated that the announcement of his Beirut candidates' list will be postponed once more for the sake of national unity. Hariri, who was speaking at an electoral rally held at the Beirut Development Association in Verdun Thursday night, also reaffirmed his pledge to preserving harmony and consensus among all Lebanese.

He said: "If [Rafik] Hariri has given his blood, then we can sacrifice one or two days before announcing the list for the sake of national unity and the people who participated in the March 14 demonstration."

He stressed the importance of preserving the achievement of unity which was attained during the March 14 unity rally.