The International Monetary Fund (IMF) announced it planed an “intensive cooperation program” with Syria aimed at supporting economic reform and capacity building. The announcement follows a visit by an IMF team to Damascus from November 10 to 13 to assess the country’s economic situation and discuss priorities with Syrian authorities.
The IMF said the Syrian economy is showing early signs of recovery. Despite significant constraints, authorities have maintained fiscal and monetary policies to stabilize the financial system. Technical assistance will focus on improving statistical systems and preparing for the resumption of Article IV consultations.
Ron van Rooden, head of the visiting IMF team, highlighted improving economic prospects, citing rising consumer and investor confidence amid Syria’s gradual reintegration into regional and global markets, the partial lifting of sanctions, and the return of over one million refugees.
Discussions in Damascus focused on the 2026 government budget, aimed at expanding fiscal space to meet essential needs, particularly for vulnerable social sectors. IMF staff will provide technical support to enhance public financial management, finalize tax legislation, restructure debt, and strengthen institutions.
Van Roden emphasized that the new tax system should be simple, competitive, and easy to implement, while the program also seeks to modernize the banking system, upgrade payment systems, and reinforce the central bank’s capacity to manage monetary policy and supervise financial institutions.
The IMF reiterated its commitment to supporting Syria’s economic stabilization and reform, praising “constructive and candid” discussions with Finance Minister Mohamed Yasir Barnieh, Central Bank Governor Abdul Qader Husariya, and other senior officials.
Earlier this month, President Ahmad al-Sharaa met the IMF Managing Director in Washington, D.C., to explore potential collaboration on economic development.
