The Chairman of the Finance and Budget Committee, MP Ibrahim Kanaan, was in Washington DC at the invitation of the International Monetary Fund (IMF) and the World Bank (WB), where he is taking part in the Spring Meetings, held until April 20.

The sessions he attended focused on the importance of responsibility in developing, progressing and growing states. Participants also focused on transparency, which is essential for sustainable economic development, “especially as corruption and mismanagement lead to economic collapse and social disruption.” Similarly, “the importance of parliamentary oversight and IMF and WB cooperation with parliamentary finance and budget committees around the world” was highlighted.

During the discussions, Kanaan asserted that “there can be no trust or recovery without parliamentary oversight to fight corruption, expose financial crimes and put pressure on the judicial authorities to fulfill their duty of accountability, especially since the IMF considers that the executive branch is primarily concerned with corrupt crimes and their cover-up through lack of governance, transparency and lawlessness.”

He recalled that “the IMF supports the role of parliaments in overseeing budgets and their proper implementation, which is essential for reform in the real sense and not in the theoretical sense.”

In a press release issued on Monday, Kanaan indicated that he would hold a series of political and financial discussions with US Administration officials during his visit to Washington.