Lebanon was badly hit by the Aug. 4 port crisis caused by the detonation of thousands of tons of ammonium nitrate followed by political turmoil regarding the formation of the government.

The country was given a deadline by French President Emmanuel Macron for enacting urgent reforms to extract the country from a devastating economic and financial crisis.

Lebanese President Michel Aoun said he was committed to a French initiative about forming a government in the country to implement necessary reforms.

While making the remarks yesterday, Aoun also urged newly-appointed Prime Minister Mustapha Adib to continue communicating with political parties to secure the formation of a government soon, reports Xinhua news agency.

Meanwhile, Adib said that he counts on all political parties to facilitate the government formation to implement what was agreed upon with Macron during his last visit to Lebanon.

Earlier this month during his second visit to Lebanon following the August 4 Port of Beirut explosions, Macron said he expected Lebanese officials to deliver on their promises regarding reforms in the country within eight weeks, or else help will discontinue.

The President did not rule out the possibility of imposing sanctions on Lebanese authorities if they fail to implement reforms. Macron said that he has agreed with Lebanese authorities to follow a roadmap, which was approved by all political parties during the visit.

The main reasons behind the failure in forming a new cabinet is the insistence by Parliament Speaker Nabih Berri, backed by Hezbollah, to hold on to the Finance Ministry by appointing a Shia Finance Minister in addition to naming potential Shia ministers in the new cabinet.

The roadmap, according to the French leader, includes reforms in the electricity, banking and judicial sectors, in addition to conducting a forensic audit for the Central Bank of Lebanon.

Meanwhile, Adib is keen on forming a small government of specialists away from political parties.

The French initiative may be bring political, financial stability in Lebanon and Middle East..