The Lebanese government on Friday launched a crisis liberation talks after protesting against the worst recession in decades, after the country's currency hit a record high in the black market.
The economic downturn since last autumn has seen widespread layoffs and wage reductions, with 45 percent of the population falling into poverty.
The country's worst economic upheaval since the Civil War of 1975-1990 has sparked an unprecedented street movement against political and corrupt and ineffective allegations.
The Lebanese pound hit a new low on Thursday, nearly 70 percent below the official rate, as protesters took to the streets after the sodown and blocked roads, including the capital Beirut.
Protesters shouted slogans against the government, as well as central bank governor Riyadh Salam, who could not prevent the financial collapse.
"Riyadh Salam, Game Over" Read the front page of the Al-Akhbar newspaper, which is close to the Shia movement Hezbollah on Friday morning.
"The hunger revolution," Zamuria said on a regular basis.
The national news agency said Prime Minister Hassan Diab presided over the "immediate" Cabinet meeting, which included the Central Bank governor and representatives of the country's money changers.
Another government meeting was planned in the afternoon at Rashtrapati Bhavan.
- Central Bank chief fires -
Recently there have been tensions between the Hezbollah-backed government and the central bank governor.
Experts say the cabinet wants to remove Salam from his position since 1993.
Protesters have accused Salam of promoting the state's growing credit system for decades, which has only benefited the country's banking and political elites.
Anger has also grown in banks in recent months, as they have banned all foreign transfers and have gradually limited dollar returns, forcing those in the black market to charge much higher rates.
Analyst Imad Salami said, "Many of the currents involved in the protests seek to overthrow the central bank governor and hold him financially accountable."
"Hezbollah wants to replace the central bank chief," a professor at the Lebanese American University told AFP.
Hezbollah supporters joined the demonstrations late on Thursday, despite being generally against the protest movement since October 17.
The last government has been under street pressure for just weeks at those demonstrations, and the Diba cabinet began working earlier this year.
- Traders strike
Lebanon media reported that the exchange rate on the black market on Friday reached 6,000 pounds, compared to the official peg 1,50 1997 from 19 exchanges.
The Central Bank on Thursday evening hit out at social media with "baseless" information "at exchange rates at levels far from reality, which mislead citizens."
Lebanon - one of the world's most indebted countries with sovereign debt of more than 170 percent of GDP - became the default in March.
It began negotiations with the International Monetary Fund last month to unlock billions of dollars of financial aid, but these are still ongoing.
Unemployment has risen to 35 percent nationwide, with the Lebanese living in Tripoli, a deported port city.
Traders in the northern city on Friday called for a "general strike" about "heavy losses" and "buying power."
The Lebanon lockdown was implemented in mid-March to stop the spread of the Middle Coronaviruses, another setback for businesses already recovering from the growing financial crisis.
The Mediterranean has recorded the lowest rates in the Middle East since the epidemic began, with just 1,402 COVID-19 cases, with 31 deaths as of Thursday.
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