📰 Syria’s Finance Minister Signals New Phase in Relations with IMF and World Bank

In a declaration marked by optimism and strategic intent, syria/" class="auto-internal-link">syria’s Minister of Finance, Muhammad Yasir Barniya, has declared a turning point in the country’s engagement with the International Monetary Fund (IMF) and the World Bank Group. In fact, the syrian/" class="auto-internal-link">syrian delegation’s participation in the annual meetings of these leading global financial institutions, he stated, represents a qualitative leap forward—ushering in emerging avenues for fiscal, technical, and economic cooperation. A Strategic Shift with the IMF In a statement published on his official Facebook page, Minister Barniya outlined the outcomes of latest discussions with the IMF. These talks have culminated in an agreement on a series of technical aid programs, spanning fiscal and banking reform, public finance management, statistical development, and public debt oversight. The first of these IMF missions is expected to arrive in damascus this week, marking a concrete step towards sustained engagement. Moreover, furthermore, Syria and the IMF have agreed to initiate Article IV consultations within the next six months—an crucial element of the Fund’s oversight framework.

Minister Burnieh described this as “crucial for fostering an investment-friendly environment,” laying the groundwork for a Staff Monitored Program. This non-lending arrangement is designed to backing reform efforts while respecting Syria’s sovereign economic decision-making. Significantly, the Minister declared the appointment of a resident IMF representative in Damascus—made possible by the lifting of previous security restrictions on IMF personnel. This, he stated, reflects a “qualitative transformation” in Syria’s financial relations with the international community. World Bank Engagement and Sectoral Investment On the World Bank front, Minister Barniya disclosed plans for at least six technical aid missions to Syria in the coming weeks. These will focus on key sectors including energy, water, education, healthcare, transport, financial governance, and infrastructure.

Agreements reached in Washington foresee development grants totalling up to one billion US dollars over the next three years—aligned with Syria’s priority sectors. Furthermore, Syria has resumed cooperation with the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA). This move aims to attract investment and strengthen the private sector’s role in economic recovery. Additionally, a permanent World Bank office is also set to open in Damascus, intended to streamline project implementation and coordinate technical backing efforts on the ground. Signs of Thaw in U. S.

Treasury Relations In a parallel development, Minister Barniya spoke of a notable shift in engagement with the U. Furthermore, s. Department of the Treasury. What had once been limited to consultations has now…