Lebanon’s caretaker PM warns of chaos as currency plunges

Lebanon’s caretaker PM warns of chaos as currency plunges

BEIRUT: Lebanon's caretaker prime minister warned Saturday that the country was quickly headed toward chaos and appealed to politicians to put aside differences in order form a new government that can attract desperately needed foreign assistance. Hassan Diab threatened to suspend his duties if that would increase pressure for a new Cabinet to be formed. He spoke in a terse address to the nation as the currency continued its rapid collapse against the dollar, trading at one point at 10, 500 Lebanese pounds on the black market for the first time in its history. Angry protesters have blocked streets and highways across the country with burning tires for days, as the pound slid to record new lows. The crash in the local currency has resulted in a sharp increase in prices as well as delays in the arrival of fuel shipments, leading to more extended power cuts around the country, in some areas reaching more than 12 hours a day. The crisis has driven nearly half the population of the small country of 6 million into poverty, wiped out savings and slashed consumer purchasing power. Small groups of protesters blocked roads again in several areas Friday, setting fire to tires