The pound was stable throughout the week trading at around 7,450 LBP until the French envoy began talks with Lebanese politicians on Thursday.
On Thursday and Friday, French representatives, including the adviser to French President Emmanuel Macron for Middle Eastern and North African affairs, Patrick Durel, attempted to catalyze the deadlocked government formation.
Durel tried to revive the French initiative to help crisis-laden Lebanon out of its hardships. Additionally, the economic support for Lebanon is expected to be redirected to civil society organizations if a government is not formed by the end of November.
According to MTV News, PM-designate Saad Hariri “might” soon hold a meeting with President Aoun to discuss the formation of a government that keeps being delayed.
It has been even at a standstill since Gebran Bassil was sanctioned by the United States. He was also accused of obstructing government formation before being sanctioned.
Lebanon has had no government for almost 100 days now after Hassan Diab resigned in the wake of the August 4 explosion.