Lebanon&nbsp;slid deeper into political crisis on Sunday after the <a href="https://www.wionews.com/world/crisis-swept-lebanon-in-gridlock-after-safadi-withdrawal-262758">withdrawal of a top candidate</a> for prime minister narrowed the chances of creating a government needed to enact urgent reforms.

Mohammad Safadi, a former finance minister, withdrew his candidacy late on Saturday, saying it was too hard to form a "harmonious" government with broad support.

Safadi was the first candidate who had appeared to <a href="https://www.wionews.com/world/lebanons-safadi-emerges-as-prime-minister-of-choice-for-three-parties-262186">win some consensus</a> among&nbsp;Lebanon's fractious sectarian-based parties since Hariri quit as prime minister on October&nbsp;29, pushed out by sweeping protests against the ruling elite.

Faced by the worst financial strains since a 1975-1990 civil war,&nbsp;Lebanon&nbsp;has pledged urgent reforms it hopes will convince donors to disburse some $11 billion pledged last year.

The unrest has kept banks shut for most of the last month. They have imposed controls on transfers abroad and US&nbsp;dollar withdrawals, and the pegged Lebanese pound is under pressure on an informal market.

Safadi became the presumed front-runner for prime minister after a meeting between Hariri, a Sunni politician, and Shi'ite groups Hezbollah and Amal, according to political sources and Lebanese media, but no political force later endorsed him.

Lebanon's prime minister must be a Sunni Muslim, according to its sectarian power-sharing system.

Protesters who have filled the streets since October&nbsp;17 hit out at the choice of Safadi, a prominent businessman and longtime politician they said was part of the elite they sought to oust.

Later on Sunday large crowds of <a href="https://www.wionews.com/world/lebanon-slides-deeper-into-chaos-no-sign-of-new-government-261811">anti-government protesters</a> waving Lebanese flags poured back into streets across the country, chanting for revolution in rallies to mark a month since the start of the uprising and keep up pressure.

In comments published on the Lebanese army's website, army chief General Joseph Aoun said the military would not stop people from demonstrating in squares but would intervene to open roads, calling freedom of movement "sacred".

Aoun said recent arrests were directed only at those rioting and confronting the army or who were found to possess drugs.

"We are in a deadlock now. I don't know when it will move again. It is not easy," said a senior political source. "The financial situation doesn't tolerate any delay."

A second political source described efforts to form a new government as "back to square one."

Reflecting the brittle political climate, President Michel Aoun's Free Patriotic Movement (FPM) accused Hariri of failing to rally support for Safadi's bid in order to undermine his candidacy and keep the job for himself.

An FPM statement criticised Hariri for insisting on a policy of "me or no one" to lead the next government, a reference to Hariri's insistence on returning as premier only if he can be the sole politician in a cabinet of specialists.

A statement by Hariri's office rejected FPM's assertion that he undermined Safadi's candidacy as an irresponsible attempt to "score points" despite&nbsp;Lebanon's "major national crisis".

But in a statement Safadi later blamed Hariri for not keeping "promises on the basis of which I accepted to be named prime minister of the next government".

He did not say what the promises were, but added: "There was nothing left for me to do but announce my withdrawal."

Safadi's withdrawal leaves the powerful, Iran-backed Hezbollah and its allies with even fewer options unless they push for a close Sunni ally, a scenario that would likely reduce the chances of&nbsp;Lebanon&nbsp;winning international support. Hezbollah is classified as a terrorist group by the United States.

Hezbollah and Amal, along with Aoun, a Maronite Christian, have sought for Hariri to return as premier while including both technocrats and politicians in a new cabinet.

But Hariri, aligned with Gulf Arabs and the West, has said he will return as prime minister only if he can form a cabinet composed of specialists who can attract international support.

Global ratings agency S&amp;P flashed the latest warning on&nbsp;Lebanon's debt-saddled economy on Friday, lowering its foreign and local currency sovereign credit ratings deeper into junk territory to 'CCC/C' from 'B-/B'.

S&amp;P cited rising pressure on central bank foreign currency reserves and diminished depositor confidence.

Lebanon's bank staff said they would continue a nationwide strike on Monday that has kept banks shut. The strike is over safety fears as depositors demand access to their money.

Lebanon slid deeper into political crisis on Sunday after the withdrawal of a top candidate for prime minister narrowed the chances of creating a government needed to enact urgent reforms.

Lebanon slid deeper into political crisis on Sunday after the withdrawal of a top candidate for prime minister narrowed the chances of creating a government needed to enact urgent reforms. Mohammad Safadi, a former finance minister, withdrew his candidacy late on Saturday, saying it was too hard to form a "harmonious" government with broad support. Safadi was the first candidate who had appeared to win some consensus among Lebanon's fractious sectarian-based parties since Hariri quit as prime minister on October 29, pushed out by sweeping protests against the ruling elite. Faced by the worst financial strains since a 1975-1990 civil war, Lebanon has pledged urgent reforms it hopes will convince donors to disburse some $11 billion pledged last year. The unrest has kept banks shut for most of the last month. They have imposed controls on transfers abroad and US dollar withdrawals, and the pegged Lebanese pound is under pressure on an informal market. Safadi became the presumed front-runner for prime minister after a meeting between Hariri, a Sunni politician, and Shi'ite groups Hezbollah and Amal, according to political sources and Lebanese media, but no political force later endorsed him. Lebanon's prime minister must be a Sunni Muslim, according to its sectarian power-sharing system. Protesters who have filled the streets since October 17 hit out at the choice of Safadi, a prominent businessman and longtime politician they said was part of the elite they sought to oust. Later on Sunday large crowds of anti-government protesters waving Lebanese flags poured back into streets across the country, chanting for revolution in rallies to mark a month since the start of the uprising and keep up pressure. In comments published on the Lebanese army's website, army chief General Joseph Aoun said the military would not stop people from demonstrating in squares but would intervene to open roads, calling freedom of movement "sacred". Aoun said recent arrests were directed only at those rioting and confronting the army or who were found to possess drugs. "We are in a deadlock now. I don't know when it will move again. It is not easy," said a senior political source. "The financial situation doesn't tolerate any delay." A second political source described efforts to form a new government as "back to square one." Reflecting the brittle political climate, President Michel Aoun's Free Patriotic Movement (FPM) accused Hariri of failing to rally support for Safadi's bid in order to undermine his candidacy and keep the job for himself. An FPM statement criticised Hariri for insisting on a policy of "me or no one" to lead the next government, a reference to Hariri's insistence on returning as premier only if he can be the sole politician in a cabinet of specialists. A statement by Hariri's office rejected FPM's assertion that he undermined Safadi's candidacy as an irresponsible attempt to "score points" despite Lebanon's "major national crisis". But in a statement Safadi later blamed Hariri for not keeping "promises on the basis of which I accepted to be named prime minister of the next government". He did not say what the promises were, but added: "There was nothing left for me to do but announce my withdrawal." Safadi's withdrawal leaves the powerful, Iran-backed Hezbollah and its allies with even fewer options unless they push for a close Sunni ally, a scenario that would likely reduce the chances of Lebanon winning international support. Hezbollah is classified as a terrorist group by the United States. Hezbollah and Amal, along with Aoun, a Maronite Christian, have sought for Hariri to return as premier while including both technocrats and politicians in a new cabinet. But Hariri, aligned with Gulf Arabs and the West, has said he will return as prime minister only if he can form a cabinet composed of specialists who can attract international support. Global ratings agency S&P flashed the latest warning on Lebanon's debt-saddled economy on Friday, lowering its foreign and local currency sovereign credit ratings deeper into junk territory to 'CCC/C' from 'B-/B'. S&P cited rising pressure on central bank foreign currency reserves and diminished depositor confidence. Lebanon's bank staff said they would continue a nationwide strike on Monday that has kept banks shut. The strike is over safety fears as depositors demand access to their money.

Lebanon is a sinking ship, parliament speaker warns

Lebanon slipped deeper into political crisis on Sunday after the withdrawal of a top candidate for prime minister narrowed the chances of creating a government needed to enact urgent reforms.

Mohammad Safadi, a former finance minister, withdrew his candidacy late on Saturday, saying it was too difficult to form a "harmonious" government with broad political support.

Safadi was the first candidate who had appeared to win some consensus among Lebanon's fractious sectarian-based parties since Hariri quit as prime minister on Oct. 29, pushed out by sweeping protests against the ruling elite.

Faced by the worst financial strains since its 1975-1990 civil war, Lebanon has pledged to carry out urgent reforms it hopes will convince donors to disburse some $11 billion pledged at a conference last year.

The unrest has kept banks shut for most of the last month. They have imposed controls on transfers abroad and US dollar withdrawals, and the pegged Lebanese pound is under pressure on an informal market.

Safadi became the presumed front-runner for prime minister after a meeting between Hariri, a Sunni politician, and Shi'ite groups Hezbollah and Amal, according to political sources and Lebanese media, but no political force later endorsed him.

Lebanon's prime minister must be a Sunni Muslim, according to its sectarian power-sharing system.

Protesters who have filled Lebanon's streets since October 17 denounced the choice of Safadi, a prominent businessman and longtime politician they said was part of the elite they sought to oust.

"We are in a deadlock now. I don't know when it will move again. It is not easy," said a senior political source. "The financial situation doesn't tolerate any delay."

A second political source described efforts to form a new government as "back to square one."

Safadi's withdrawal leaves the powerful, Iran-backed Hezbollah and its allies with even fewer options unless they push for a close Sunni ally, a scenario that would likely reduce the chances of Lebanon winning international support.

Hezbollah is classified as a terrorist group by the United States.

Hezbollah and Amal, along with President Michel Aoun, a Maronite Christian, have sought for Hariri to return as premier but have demanded the inclusion of both technocrats and politicians in the new cabinet.

But Hariri, who is aligned with Gulf Arab states and the West, has said he will only return as prime minister if he is able to form a cabinet composed entirely of specialists capable of attracting the international support.

Global ratings agency S&amp;P flashed the latest warning on Lebanon's debt-saddled economy on Friday, lowering its foreign and local currency sovereign credit ratings deeper into junk territory to 'CCC/C' from 'B-/B'.

S&amp;P cited rising pressure on central bank foreign currency reserves and diminished depositor confidence brought on by the bank closures and reported restrictions on hard currency movement.

Lebanon's bank staff union said it would meet on Sunday or Monday to decide whether to call off a strike after receiving a security plan to keep branches safe and potentially re-open banks as early as Monday.

Lebanon slipped deeper into political crisis on Sunday after the withdrawal of a top candidate for prime minister narrowed the chances of creating a government needed to enact urgent reforms.

Lebanon slipped deeper into political crisis on Sunday after the withdrawal of a top candidate for prime minister narrowed the chances of creating a government needed to enact urgent reforms. Mohammad Safadi, a former finance minister, withdrew his candidacy late on Saturday, saying it was too difficult to form a "harmonious" government with broad political support. Safadi was the first candidate who had appeared to win some consensus among Lebanon's fractious sectarian-based parties since Hariri quit as prime minister on Oct. 29, pushed out by sweeping protests against the ruling elite. Faced by the worst financial strains since its 1975-1990 civil war, Lebanon has pledged to carry out urgent reforms it hopes will convince donors to disburse some $11 billion pledged at a conference last year. The unrest has kept banks shut for most of the last month. They have imposed controls on transfers abroad and US dollar withdrawals, and the pegged Lebanese pound is under pressure on an informal market. Safadi became the presumed front-runner for prime minister after a meeting between Hariri, a Sunni politician, and Shi'ite groups Hezbollah and Amal, according to political sources and Lebanese media, but no political force later endorsed him. Lebanon's prime minister must be a Sunni Muslim, according to its sectarian power-sharing system. Protesters who have filled Lebanon's streets since October 17 denounced the choice of Safadi, a prominent businessman and longtime politician they said was part of the elite they sought to oust. "We are in a deadlock now. I don't know when it will move again. It is not easy," said a senior political source. "The financial situation doesn't tolerate any delay." A second political source described efforts to form a new government as "back to square one." Safadi's withdrawal leaves the powerful, Iran-backed Hezbollah and its allies with even fewer options unless they push for a close Sunni ally, a scenario that would likely reduce the chances of Lebanon winning international support. Hezbollah is classified as a terrorist group by the United States. Hezbollah and Amal, along with President Michel Aoun, a Maronite Christian, have sought for Hariri to return as premier but have demanded the inclusion of both technocrats and politicians in the new cabinet. But Hariri, who is aligned with Gulf Arab states and the West, has said he will only return as prime minister if he is able to form a cabinet composed entirely of specialists capable of attracting the international support. Global ratings agency S&P flashed the latest warning on Lebanon's debt-saddled economy on Friday, lowering its foreign and local currency sovereign credit ratings deeper into junk territory to 'CCC/C' from 'B-/B'. S&P cited rising pressure on central bank foreign currency reserves and diminished depositor confidence brought on by the bank closures and reported restrictions on hard currency movement. Lebanon's bank staff union said it would meet on Sunday or Monday to decide whether to call off a strike after receiving a security plan to keep branches safe and potentially re-open banks as early as Monday.

Crisis-swept Lebanon in gridlock after Safadi withdrawal

Mohammad Safadi, a former finance minister, has agreed to be <a href="https://www.wionews.com/world/lebanons-safadi-emerges-as-prime-minister-of-choice-for-three-parties-262186">Lebanon's prime minister</a> if he wins the support of leading parties, Foreign Minister Gebran Bassil said on Friday.

The consensus on the wealthy 75-year-old, who has had extensive business ties to Saudi Arabia, suggests progress towards forming a new government at a time of acute economic crisis and street protests that brought down his predecessor.

Bassil told broadcaster MTV the process to name Safadi as prime minister should begin on Monday and a new government was likely to be formed quickly as all the main parties agreed on the need to move swiftly.

"I confirm that we have been in contact with minister Safadi and he has agreed to take on the position of prime minister if his name gets an agreement with the main political forces in government," said Bassil.

Saad al-Hariri quit as prime minister on October&nbsp;29 in the face of the protests against ruling politicians who are blamed for rampant state corruption and steering Lebanon into its worst economic crisis since the 1975-90 civil war.

Banks have been closed this week because of a strike by staff over security concerns, banks have imposed controls on transfers abroad and US dollar withdrawals, and the pegged Lebanese pound is under pressure on an informal market. Some shops have increased prices of imported goods in pounds.

Political sources said the consensus on Safadi emerged in a meeting late on Thursday between Hariri, a Sunni politician aligned with Western and Gulf states, and representatives of the Iran-backed Shi'ite group Hezbollah and its Shi'ite ally Amal.

A source familiar with details of the meeting said Hariri had expressed no objections to Safadi's nomination.

A second source, a senior figure close to Amal and Hezbollah, said agreement in principle on Safadi's nomination had emerged at the meeting.

Huge challenges

Safadi, is a prominent businessman and former member of parliament from the predominantly Sunni city of Tripoli. He was finance minister from 2011 to 2014 under Prime Minister Najib Mikati, and was also previously minister of economy and trade.

Lebanon's prime minister must be a Sunni Muslim, according to its sectarian power-sharing system.

The next government will face huge challenges.

It must win international financial support seen as critical to alleviating the economic crisis, while addressing the challenge posed by the nationwide protest movement that wants to see the old elite gone from power.

Lebanon's long-brewing economic crisis, rooted in years of state waste, corruption and mismanagement, has deepened since the protests began.

Dollars were being offered at 1,820 pounds on Friday, an exchange dealer said, weaker than the official rate of 1,507.5 pounds but slightly firmer than a day earlier.

Hariri had said he would return only as prime minister of a cabinet of specialist ministers that he believed would be best placed to win aid and save Lebanon from crisis. To that end, he has been holding many closed-door meetings with other parties.

Hezbollah and Amal wanted Hariri to return as premier, but the Shi'ite groups and President Michel Aoun, a Hezbollah ally, have demanded the inclusion of both technocrats and politicians in the cabinet.

Listed as a terrorist group by the United States, the heavily armed Hezbollah and groups politically aligned with it hold a majority of seats in parliament.

The process requires Aoun, a Maronite Christian, to formally consult members of parliament on their choice for prime minister. He must designate whoever gets the most votes.

Hariri remains caretaker prime minister for now. 
&nbsp;

Mohammad Safadi, a former finance minister, has agreed to be Lebanon's prime minister if he wins the support of leading parties, Foreign Minister Gebran Bassil said on Friday.

Mohammad Safadi, a former finance minister, has agreed to be Lebanon's prime minister if he wins the support of leading parties, Foreign Minister Gebran Bassil said on Friday. The consensus on the wealthy 75-year-old, who has had extensive business ties to Saudi Arabia, suggests progress towards forming a new government at a time of acute economic crisis and street protests that brought down his predecessor. Bassil told broadcaster MTV the process to name Safadi as prime minister should begin on Monday and a new government was likely to be formed quickly as all the main parties agreed on the need to move swiftly. "I confirm that we have been in contact with minister Safadi and he has agreed to take on the position of prime minister if his name gets an agreement with the main political forces in government," said Bassil. Saad al-Hariri quit as prime minister on October 29 in the face of the protests against ruling politicians who are blamed for rampant state corruption and steering Lebanon into its worst economic crisis since the 1975-90 civil war. Banks have been closed this week because of a strike by staff over security concerns, banks have imposed controls on transfers abroad and US dollar withdrawals, and the pegged Lebanese pound is under pressure on an informal market. Some shops have increased prices of imported goods in pounds. Political sources said the consensus on Safadi emerged in a meeting late on Thursday between Hariri, a Sunni politician aligned with Western and Gulf states, and representatives of the Iran-backed Shi'ite group Hezbollah and its Shi'ite ally Amal. A source familiar with details of the meeting said Hariri had expressed no objections to Safadi's nomination. A second source, a senior figure close to Amal and Hezbollah, said agreement in principle on Safadi's nomination had emerged at the meeting. Huge challenges Safadi, is a prominent businessman and former member of parliament from the predominantly Sunni city of Tripoli. He was finance minister from 2011 to 2014 under Prime Minister Najib Mikati, and was also previously minister of economy and trade. Lebanon's prime minister must be a Sunni Muslim, according to its sectarian power-sharing system. The next government will face huge challenges. It must win international financial support seen as critical to alleviating the economic crisis, while addressing the challenge posed by the nationwide protest movement that wants to see the old elite gone from power. Lebanon's long-brewing economic crisis, rooted in years of state waste, corruption and mismanagement, has deepened since the protests began. Dollars were being offered at 1,820 pounds on Friday, an exchange dealer said, weaker than the official rate of 1,507.5 pounds but slightly firmer than a day earlier. Hariri had said he would return only as prime minister of a cabinet of specialist ministers that he believed would be best placed to win aid and save Lebanon from crisis. To that end, he has been holding many closed-door meetings with other parties. Hezbollah and Amal wanted Hariri to return as premier, but the Shi'ite groups and President Michel Aoun, a Hezbollah ally, have demanded the inclusion of both technocrats and politicians in the cabinet. Listed as a terrorist group by the United States, the heavily armed Hezbollah and groups politically aligned with it hold a majority of seats in parliament. The process requires Aoun, a Maronite Christian, to formally consult members of parliament on their choice for prime minister. He must designate whoever gets the most votes. Hariri remains caretaker prime minister for now.

Ex-finance chief Safadi agrees to be put forward as Lebanon's PM

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Lebanon is a sinking ship, parliament speaker warns

Crisis-swept Lebanon in gridlock after Safadi withdrawal

Ex-finance chief Safadi agrees to be put forward as Lebanon's PM