Former Lebanese Finance Minister Mohammad Safadi withdrew his name as one of the candidates for the presidency of the Lebanese government at dawn on Sunday.
Safadi said he considered it difficult to form what he described as a homogeneous government supported by all political parties that would be able to take immediate rescue measures that put an end to the economic and financial deterioration and respond to the aspirations of the people in the street.
He added in a statement, "Therefore, I ask to withdraw my name from circulation as one of the names put forward to form the next government and I hope that the mandate of Prime Minister Saad Hariri again."
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Al-Jazeera's correspondent in Beirut, Ihab al-Okadi, said Safadi's move has brought the situation in Lebanon back to square one.
He added that it came after the rejection of the street as a candidate for the presidency of the expected government, where the movement sees him as one of the symbols of the political and economic system that seeks to bring it down and remove it from the forefront.
Three former prime ministers have also reserved their candidacy, and have openly supported Saad Hariri's candidacy for prime minister.
Safadi emerged as a candidate for prime minister last Thursday after political sources and media said three major parties had agreed to support him for the post, which was rejected by the popular movement. .
Sources close to the head of the caretaker government in Lebanon said that Saad Hariri did not object to the assignment of Mohamed Safadi to form the new government, after his name was proposed by representatives of Hezbollah and Amal, but also did not show support for his candidacy.
Saad al-Hariri resigned as prime minister on October 29 in the face of unprecedented protests against the ruling elite, widely accused of corruption and guiding the country toward the worst economic crisis since the 1975-1990 civil war.