Lebanon: Billionaire businessman and former PM Najib Mikati can become the new Prime Minister of Lebanon, President can appoint today

The current prime minister, Saad Hariri, was nominated to form a new government in October and has not succeeded so far.

Najib Mikati may become the Prime Minister of Lebanon (Photo Credits: Twitter)

The President of Lebanon on Monday may nominate billionaire businessman and former prime minister Najib Mikati as the country’s next prime minister. The President has taken this step after the current Prime Minister Saad Hariri abandoned the attempt to form a Council of Ministers earlier this month amid the unprecedented financial crisis in the country.

Mikati, Lebanon’s richest man, became the choice for the post when most of the country’s political parties and the Iran-backed Hezbollah group supported him. Mikati was also supported by Hariri, who abandoned efforts to form a government after not agreeing with Aun on cabinet formation.

Appointment can be done today

Najib Mikati’s appointment may take place only today after consultations between President Michael Aoun and Lebanese lawmakers. The political standoff between Aun and Hariri over constitutional rights has deepened an already dire economic and financial crisis. It is not yet clear whether Mikati will be able to break the years-long deadlock over the formation of a new government.

The economic crisis in Lebanon triggered by decades of corruption and mismanagement began in late 2019 and has intensified in recent months. The World Bank said earlier last month that the crisis could be one of the world’s worst in more than 150 years. A power struggle has begun between the nominated Prime Minister Saad Hariri and Aun and his son-in-law Gebran Basil on the other. Hariri was nominated to form a new government in October and has not succeeded so far.

Prime Minister resigned after the blast

Prime Minister Hassan Diab’s government resigned days after a massive explosion in Beirut on August 4 killed 211 people and injured more than 6,000 others. European Union foreign policy chief Josep Borrell said, “We do not understand why there is no government in Lebanon even nine months after the prime minister’s resignation.” Only an immediate agreement with the International Monetary Fund will save the country from financial collapse.

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Shehnaz
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.
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