The Lebanese currency continued its decline on the black market Monday, with an unprecedented rate exceeding 26,000 against the dollar.

The pound had been pegged -- and officially still is -- to the dollar since 1997 at a rate of 1,500.

Energy Minister Walid Fayyad traveled Sunday to Paris on an official visit during which he will meet with top officials in the energy, electricity and water sectors, state-run National News Agency reported.

“He will also meet with a number of officials at French electricity company EDF, the French Development Agency (AFD), which is funding several water and sewage projects, and the Total (Energies) firm, which is working on (offshore oil and gas) blocks 4 and 9,” NNA added.

Foreign ministers from the Group of Seven industrialized nations are gathering for a weekend in Liverpool, with the British hosts seeking elusive unity to ease growing tensions with Russia, China and Iran.

U.K. Foreign Secretary Liz Truss is due to greet U.S. Secretary of State Antony Blinken and other G-7 counterparts Friday evening ahead of two days of talks in the northwest England port city famed for its youthful energy, its soccer teams and The Beatles.

Chinese leaders on Friday promised tax cuts and support for entrepreneurs to shore up slumping economic growth after a campaign to rein in surging corporate debt caused bankruptcies and defaults among real estate developers.

A statement issued after an annual planning meeting led by President Xi Jinping called for "maintaining stability," reflecting anxiety about rising risks after economic growth sagged to an unexpectedly low 4.9% over a year earlier in the quarter ending in September.

Australia's military said Friday it plans to ditch its fleet of European-designed Taipan helicopters and instead buy U.S. Black Hawks and Seahawks because the American machines are more reliable.

The move comes less than three months after Australia canceled a deal to buy French submarines in favor of building nuclear-powered submarines that use U.S. and British technology in a switch that deeply angered France.

The U.N. humanitarian chief warned that Afghanistan's economic collapse "is happening before our eyes" and urged the international community to take action to stop "the freefall" before it leads to more deaths.

Martin Griffiths said in an interview with The Associated Press on Thursday that donor nations need to agree that in addition to emergency humanitarian aid they need to support basic services for the Afghan people including education, hospitals, electricity and paying civil servants — and they must inject liquidity into the economy which has seen the banking system ""pretty well shut down."

Global stock markets declined Friday ahead of U.S. inflation data that might influence a Federal Reserve decision on when to roll back economic stimulus.

London and Frankfurt opened lower. Shanghai, Tokyo and Hong Kong retreated.

The Lebanese currency has plummeted on the black market after the central bank raised the exchange rate for U.S. dollar deposits held in the country's banks.

"The central bank... has decided to raise the exchange rate for U.S. dollars from 3,900 to 8,000 Lebanese pounds," it said in a statement.

Syria will host an Arab energy conference in 2024, the country's energy ministry said Thursday, the latest sign that Arab countries are moving to re-engage with the government of Syria's embattled President Bashar Assad.

The announcement followed a unanimous vote from members of the Organization of Arab Petroleum Exporting Countries during a virtual meeting Thursday, the ministry said. The conference will be held in Damascus, according to a ministry statement on Facebook and the official state news agency SANA. Qatar is hosting the 2023 conference.

Deputy Prime Minister Saadeh Shami said that "we need the approval of the Cabinet to start with the IMF's plan."

"If Cabinet doesn't convene, there would be difficulties to negotiate with the IMF," Shami said.