U.S. President Joe Biden welcomed the election of Joseph Aoun as Lebanon's president on Thursday, saying in a statement that the army chief was the "right leader" for the war-battered country.

"President Aoun has my confidence. I believe strongly that he is the right leader for this time," said Biden, adding that Aoun would provide "critical leadership" in overseeing an Israel-Hezbollah ceasefire.

Aoun's election by Lebanese lawmakers ended a more than two-year vacancy and could mark a step toward lifting the country out of financial meltdown.

"We finally have a president," Biden said later, at the end of a meeting on the response to major wildfires in the U.S. city of Los Angeles.

He said he had spoken to Aoun by phone on Thursday for "20 minutes to half an hour," describing the Lebanese leader as a "first-rate guy."

Secretary of State Antony Blinken called Aoun's election "a moment of historic opportunity," which offered Lebanon a chance to "establish durable peace and stability."

Aoun, who turns 61 on Friday, faces the difficult task of overseeing the fragile ceasefire with Israel in southern Lebanon.

He must also name a prime minister capable of implementing the reforms demanded by international creditors in return for a desperately needed bailout.