President Michel Aoun said he hoped a new Lebanese government would be formed within the next couple days, as efforts to agree one were spurred on by a fuel crisis that has brought much of the country to a standstill and sparked warnings of anarchy.
After meeting Aoun, Prime Minister-designate Najib Mikati said it was still possible for a government to be formed in the next two days. The issues were being tackled one-by-one, he said, though he did not know how the last would be resolved.
Explaining the impetus, the source added: "The whole situation is deteriorating, the whole system is collapsing." U.S. Ambassador Dorothy Shea said the economy and basic services had "reached the precipice of collapse". With its currency reserves depleted, the bank has said new legislation is needed to allow use of the mandatory foreign reserve for such imports.read more
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