IMF Will Help Syria Join the World Economy Again, Says Georgieva
The International Monetary Fund (IMF) wants to work with Syria to help it become part of the world economy again, the fund’s leader, Kristalina Georgieva, said in a statement on Thursday.
IMF Support
“Our main goal is to help Syria rebuild its institutions so it can reconnect with the global economy,” she said.
This statement came as Syria’s central bank governor and finance minister attended the IMF and World Bank spring meetings for the first time in over 20 years.
“There was wide agreement that Syria is facing serious economic problems, and everyone agreed to support its recovery and development,” said a joint statement from the IMF, World Bank, and Saudi Finance Minister Mohammed Aljadaan.
The statement said that the most important priorities are meeting the urgent needs of the Syrian people, rebuilding institutions, and creating a national plan to fix the economy.
A special meeting on Syria was also held this week, where officials shared their efforts to help stabilize the country, rebuild it, and support long-term economic growth.
Surprising News
The IMF has appointed Ron van Rooden as its new mission chief to Syria. He’s the first person in this role since the war began 14 years ago.
Syria’s Infrastructure
Syria’s infrastructure—like roads, buildings, and power systems—has been badly damaged during nearly 14 years of war. The conflict started after the government cracked down on protests against President Bashar Al Assad.
In December, Assad was removed from power. The new government is now trying to rebuild relationships with other countries.
Since Assad’s removal, Syria has faced a severe money shortage. Reuters reports that the central bank now has only $200 million in foreign currency, compared to $18.5 billion in 2010 before the war started.
Last week, a top official from the United Nations Development Program (UNDP) told Reuters that the UN plans to give Syria $1.3 billion over the next three years to help rebuild its infrastructure.
Published: 25th April 2025
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