
by arabnews.com — NAJIA HOUSSAR — BEIRUT: The Lebanese pound had seen a significant improvement in its dollar exchange rate following an announcement last week by Saad Hariri, the leader of the Future Movement, that he is the “natural candidate” to head the next government. However, the rate jumped to over LBP8,000 to the dollar on the Lebanese black market on Thursday — having dropped by LBP1,200 over the previous two days — after President Michel Aoun announced that the binding parliamentary consultations to designate Lebanon’s new prime minister, which were scheduled for Thursday, were to be postponed for a week. Questions were raised about Aoun’s unilateral decision, and about the message he is sending to the international community and the Lebanese people, who are hopeful that the rapid installation of a new government might alleviate some of the economic and social ills that the country currently faces. Parliament Speaker Nabih Berri said he was against postponing the consultations “even for one day.”
The leader of the Marada Movement, Suleiman Frangieh, said, “Postponing the consultations is forbidden under the circumstances the Lebanese are experiencing.” A majority of Lebanon’s parliamentary blocs had announced that they would back Hariri as the new prime minister during the parliamentary consultations. Aside from his own party, Hariri has the support of Hezbollah, the Amal Movement, the Progressive Socialist Party (PSP), the Marada Movement, and Armenian MPs, giving him a total of at least 70 votes — a clear majority among the 120 currently serving MPs. The Free Patriotic Movement (FPM) and the Lebanese Forces will reportedly not support him. FPM leader Gebran Bassil — who is also the president’s son-in-law — launched an attack on Hariri on Tuesday, widening the political divide. However, presidential palace sources said there was “no personal reason” behind Aoun’s decision to postpone the consultations. In 2018, Aoun blocked the formation of a government led by Hariri, stipulating that Bassil had to be given a ministerial position.