Lebanon's Mikati named PM, urges action to secure IMF deal

Lebanon's caretaker Prime Minister Najib Mikati arrives at the presidential palace in Baabda, Lebanon June 23, 2022. REUTERS/Mohamed Azakir

BEIRUT (Reuters) -Lebanon's Najib Mikati was named prime minister on Thursday, urging fractious politicians to set aside differences to secure an IMF deal which he said was the only chance to save the country from financial collapse.

Facing a politically difficult path to agreeing on a new cabinet, the billionaire tycoon who led three previous governments said Lebanon did not have time for "drowning in conditions and demands" of rival groups over ministerial posts.