IMF Makes First Visit to Syria in 16 Years to Review Economy and Finances
The International Monetary Fund (IMF) finished a five-day visit to Syria, the first since 2009, to review the country’s economic and financial situation.
IMF’s Visit to Syria
A team from the International Monetary Fund (IMF), led by Ron van Rooden, visited Syria’s capital, Damascus, from June 1 to June 5. The visit focused on talks with the new Syrian government about its main economic goals and how to strengthen the country’s ability to create and carry out economic plans.
During the visit, the IMF team met with key officials, including Syria’s Finance Minister Yisr Barnieh, Central Bank Governor Abdulkader Husrieh, other senior government members, and representatives from private companies and state-owned banks.
After the trip, Ron van Rooden said Syria is facing “huge challenges” due to many years of war. These include a major drop in economic activity and incomes, high levels of poverty, weak state institutions, poor basic services, and damaged infrastructure across the country.
Main Focus Areas
The talks centered on short-term goals and steps to rebuild important government institutions. These included:
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Creating a national budget for the rest of the year
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Improving tax collection
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Strengthening public financial systems
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Helping the central bank stabilize prices and rebuild trust in the Syrian pound
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Fixing the banking and payment systems
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Removing barriers for businesses
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Improving how economic data is collected and shared
Need for Global Help
Van Rooden said Syria will need strong international support, especially through low-cost financial help and technical training, to fix its outdated systems and improve economic institutions.
The IMF promised to help Syria in these efforts and will work closely with other global partners to create a clear action plan for improving key economic offices like the Ministry of Finance, the Central Bank, and the statistics department.
Background
Last month, IMF spokesperson Julie Kozack said that IMF staff were getting ready to support Syria’s economic recovery. She said the team’s talks with Syria’s new economic leaders were meant to better understand the country’s current situation. She added, “We are ready to give advice and focused technical help in areas where we have expertise.”
Published: 11th June 2025
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