Consultations for Picking New PM Set for Wednesday, Thursday

Binding parliamentary consultations for the designation of a new premier have been scheduled for Wednesday and Thursday, state-run National News Agency reported, hours after Michel Aoun was elected as Lebanon's 13th president.

Earlier in the day, Aoun signed a decree accepting the resignation of Prime Minister Tammam Salam's government and asking it to act in caretaker capacity until the formation of a new government.

During consultations at the Baabda Palace, parliamentary blocs inform the president of their nominations for the prime minister post and the candidate who receives the highest number of votes becomes premier.

Al-Mustaqbal Movement leader ex-PM Saad Hariri is tipped to be re-designated as premier in light of his key support for Aoun's nomination and Hizbullah's announcement that it is not opposed to his return to the premiership.

Aoun's election ends a presidential void that lasted around two and a half years.

Analysts have warned that Aoun's election will not be a "magic wand" for Lebanon, which has seen longstanding political divisions exacerbated by the war in neighboring Syria and has struggled to deal with an influx of more than a million Syrian refugees.

In addition to pledges of economic growth and security, Aoun said in his oath of office that Lebanon must work to ensure Syrian refugees "can return quickly" to their country.

Aoun also pledged to endorse an "independent foreign policy" and to protect Lebanon from "the fires burning across the region."