Lebanon President discusses financial crisis with Morgan Stanley

Beirut: Lebanon’s president said he discussed his country’s economic and financial plight with representatives of Morgan Stanley and other institutions, days before he’s due to begin talks with political factions on a way out of the worst crisis in years.

The meeting covered the proposed economic reform plan, President Michel Aoun said on his Twitter account.

Aoun has set Monday for the start for binding parliamentary consultations to name a new prime minister after Saad Hariri resigned in late October in the face of mounting nationwide protests against deteriorating living conditions.

Samir al-Khatib, a businessman, has emerged as a leading candidate to replace Hariri.

The protests exacerbated a financial crisis that has seen the central bank rationing dollars and raised investor concern that Lebanon might not be able to pay next year’s maturing debt.