Lebanon

Kanaan: No President Without Dialogue... The Need to Restructure Banks

Kanaan: No President Without Dialogue... The Need to Restructure Banks

Ibrahim Kanaan, head of the Finance and Budget Committee, pointed out that "the government has not yet conducted the comprehensive survey required for assets and liabilities, especially concerning the banks, even after four years of collapse." He added in a television interview with "LBC": "I visited the caretaker Prime Minister Najib Mikati and told him, I know that the responsibility is great, and this responsibility can only be borne collectively. I asked him to summon every decision-making official for a meeting and request the presentation of complete reports about the banks and the central bank, and that obligations and losses be determined."

He continued: "The government is required to prepare and send the 2024 budget project, while sending the 2023 project without vision and with an 8-month delay is a waste of time and serves no purpose; it does not align with the reforms required locally and internationally." Kanaan affirmed that "the judiciary needs to begin reviewing the forensic audit report, and I will call the Finance and Budget Committee to a session to listen to the concerned parties regarding this file. More importantly than the judiciary's move, looking ahead is necessary to know how to solve the problem, restructure the banks, and return depositors' funds."

He pointed out that "we need to move towards a roadmap for the presidency sooner rather than later. The president should be a gateway to solutions, not a new vacancy, and not just a formal filling of a position without addressing the political, monetary, financial, and economic issues that burden us." He considered that "no entity can bring a president without dialogue, not for imposition or bargaining, but to reach a national and Christian option based on a roadmap that can be implemented in cooperation with the forces and blocs to avoid his term being met with obstruction. Sticking to positions merely prolongs the vacuum, while we must agree on Lebanon's salvation."

Regarding the message from the French envoy Jean-Yves Le Drian, Kanaan said: "I have comments on the form of what Le Drian proposed, but in reality, he is delivering a slap to the political class. What is required is a unified reading to restructure the banks, agree with the IMF, ensure judicial independence, and restructure the public sector. Electing a president without a project, vision, and the ability to address these files will remain ineffective and fruitless."

He noted that "there is no rush on the sovereign fund, which is a preparatory legislative system required and is a message of transparency and trust for the international community, leading us to a reformist, advanced formula independent of political hegemony after merging four proposals from various blocs."

Our readers are reading too