Deputy Ibrahim Kanaan, who left Gebran Bassil's Free Patriotic Movement in 2024, went to Baabda on Tuesday to discuss with President Joseph Aoun the results of his trip to Washington last week, during the spring meetings of the International Monetary Fund (IMF) and the World Bank, according to a statement released by the presidency on X.

Departing at the same time as the delegation representing the Lebanese executive and presidency, the MP, who also chairs the parliamentary Finance Committee, returned mid-week after meeting members of the two organizations as well as representatives of the U.S. administration.

According to him, “Lebanon prompts strong international interest,” but it must work to build “a clear, reformative, sovereign and national vision, capable of making a difference.” He also stated that the Finance Committee will begin studying the banking resolution bill on Wednesday, a text that needs to set the legal framework for the restructuring of the sector.

The IMF hopes to see a law voted on quickly that aligns with international standards to clean up a sector that has blocked 10s of billions of dollars in deposits since the crisis began in 2019, exacerbated since October 2023 by the war between Hezbollah and Israel.

Discussions between the Lebanese delegation and the IMF took a positive turn last week when the Lebanese Parliament voted on a law amending banking secrecy more in line with its expectations, erasing modifications deemed unacceptable made a week earlier by the joint committees.