by AFP — Beirut: Lebanon’s newly designated prime minister Najib Mikati said Monday that a cabinet lineup would not be announced by mid-week to coincide with the anniversary of the deadly Beirut port blast. “Frankly, with regard to the government, I was hoping the pace would be faster,” he said after meeting President Michel Aoun, whom he said he would now see again on Thursday. The government of Hassan Diab, who is still caretaker prime minister, resigned en masse days after the August 4 explosion that killed more than 200 people last year. Mikati, who has already been prime minister twice in the past and is also the country’s richest man, was designated on July 26 to form a government after Saad Hariri threw in the towel.

The Lebanese pound, which has lost more than 90% of its value in less than two years, weakened. Dollars were changing hands at a rate of around 20,000 pounds after Mikati spoke, compared to 19,200/19,300 before his comments, a dealer said.