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Lebanese billionaire Mikati picked to form new govt

Lebanon's Prime Minister-designate Najib Mikati has already headed three governments since 2005
— Beirut (AFP)

Lebanon's lawmakers designated incumbent Prime Minister Najib Mikati to form a new government Thursday, more than a month after parliamentary elections that yielded no clear majority.

The 66-year-old billionaire, who had been widely expected to keep his job, secured 54 votes during parliamentary consultations, giving him a clear edge over other potential nominees.

President Michel Aoun subsequently asked him to form a new government, a task analysts fear could take weeks, if not months, despite the economic emergency facing the country.

Lebanon defaulted on its debt in 2020, the local currency has lost around 90 percent of its value on the black market, and the UN now considers four in five Lebanese to be poor.

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