Politicians in Haiti have signed a last minute agreement to install a transitional Government that keeps the country from plunging into an immediate power vacuum.
Under the new agreement, Parliament will elect an interim President for a four month term,reports The Daily Star.
President Michel Martelly's five year term has come to and has been constitutionally barred from seeking re-election.
A run-off vote to replace him was postponed last month because of fears of violence and allegations of fraud.
The agreement is to be signed by the Presidents of both chambers of Parliament.
Prime Minister Evans Paul will remain in the post until parliament agrees his replacement.
Haiti's runoff election is now scheduled for 24 April. The new President is due to sworn in on 14 May.
The agreement gives the troubled Caribbean nation an opportunity for a fresh start after more than a year of political instability and violence.
Haiti is the poorest country in the western hemisphere as it was devastated by a powerful earthquake in 2010 and its economy still relies heavily on foreign aid.
