BEIRUT: The Lebanese pound fell slightly against the US dollar Monday, trading at LL8,900 after political tensions escalated between the countrys leaders.

Exchange dealers sold the greenback for LL8,950 and bought it for LL8,850. The pound was trading for LL8,900-8,800 over the weekend.

The slight fall comes after Prime Minister-designate Saad Hariri Sunday accused President Michel Aoun of blocking the government formation process by insisting his camp get the veto power. This marked yet another round of escalation between the two leaders as they continue to disagree on the upcoming governments form.

However, the leaders do not have the luxury of time, as the country has been without a government for more than six months now while its economy collapses. A new government is desperately needed to start implementing reforms, try and rescue the economy and rekindle talks with the International Monetary Fund, the countrys last resort.

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