Damascus, Dec. 12 (SANA) The governor of the Central Bank of Syria, Abdul Qader Husariya , said the U.S. repeal of the “Caesar Act” constitutes a pivotal moment that is expected to positively influence Syria’s monetary and economic stability.
“If the repeal of the Caesar Act may appear miraculous, it will not, on its own, produce miracles,” Husariya told SANA. “The real progress will come when we collectively work to capitalize on this step by strengthening institutions, bolstering economic and social stability, and attracting investment.”
Husariya, noted that lifting the sanctions will allow for expanded financial transfers, smoother trade flows, and a partial restoration of confidence in the Syrian banking sector.
He added that the Central Bank will continue implementing measures designed to take advantage of this opening in support of exchange-rate stability and the broader path toward economic recovery.
The U.S. House of Representatives voted on Wednesday to repeal the sanctions imposed on Syria under the “Caesar Act,” enacted in December 2019 to penalize the former regime for war crimes committed against Syrian people.
