Hezbollah's leader hailed the Lebanese government's crisis plan as a "big, important step" on Monday and said any talks with the IMF must not blindly surrender the country to terms it can not bear.

In a televised speech, Sayyed Hassan Nasrallah said the government should be given a chance as it tries to tackle a dire financial and economic crisis.

Nasrallah said local banks had made huge profits over the years and must now step in to help. He urged the government, which signed a request for IMF assistance last week, to find solutions for the weakening local currency and sky-rocketing prices.