France and the US have called on Lebanese politicians to urgently form a cabinet and have scheduled an international conference to support these efforts, AFP reported.

All stakeholders must work urgently to form a government capable of immediate reform, US Secretary of State Antony Blinken tweeted.

France has called on Lebanese political leaders to quickly form a government tasked with implementing much-needed reforms and tackling the corruption that has left Lebanon nearly bankrupt.

The French Foreign Ministry said recent events confirm a political stalemate in which Lebanese leaders have deliberately held the country for several months, even as the country plunges into an unprecedented economic and social crisis.

The ministry said that now it is urgent to overcome this organized and unacceptable obstacle.

It is noted that France, with the support of the United Nations, is convening an international conference on August 4.

The date marks the first anniversary of the massive explosion in the port of Beirut, which killed more than 200 people.

The announcements came at a time of great uncertainty after Prime Minister-designate Saad Hariri stepped down due to disagreements with the president over the cabinet. On Friday morning, the Lebanese pound hit a new low on the black market at 23,400 per dollar.

President Michel Aoun was expected to convene consultations with the leaders of the parliamentary blocs. The one who will receive the most support will be offered to work on the formation of a new cabinet of ministers.