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Lebanon’s president to appoint a billionaire businessman as the next premier-designate

BEIRUT, 27 July 2021, (TON): Lebanon’s president is expected to appoint Monday a billionaire businessman and former prime minister as the next premier-designate, after Saad Hariri earlier this month gave up attempts to form a Cabinet amid an unprecedented financial meltdown roiling the country.

Najib Mikati’s appointment is likely to come later in the day, following binding consultations between President Michel Aoun and Lebanese lawmakers.

One of the richest men in Lebanon, Mikati became a favorite for the post after he was endorsed by most of Lebanon’s political parties and also the powerful, Hezbollah group. Mikati was also endorsed by Hariri, who abandoned efforts to form a government after failing to agree with Aoun on the Cabinet’s makeup.

The political deadlock, driven by a power struggle between Aoun and Hariri over constitutional rights, has worsened a crippling economic and financial crisis.

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