Damascus, Dec. 19 (SANA) Syria’s Central Bank (CBS) Governor Abdulkader Husrieh said that the repeal of the Caesar Act removes a major legal obstacle to Syria’s reintegration into the international financial system, particularly with regard to obtaining a sovereign credit rating.
In a post on his Facebook page, Husrieh explained that repealing the law opens important opportunities for Syria, such as engaging with international credit rating agencies. He noted that lifting legal restrictions would allow Syria to seek an initial “shadow” sovereign credit rating, unpublished and advisory, as a first step, followed by a public rating when conditions permit.
Husrieh clarified that a sovereign credit rating does not mean immediate borrowing, but rather aims to provide an objective assessment of economic and financial conditions, strengthen policy discipline, identify reform priorities, send a clear signal of transparency, rebuild institutions, and pave the way for renewed engagement with international institutions and investors.
He stressed that the Central Bank of Syria will play a pivotal role by supporting monetary transparency, providing reliable economic data, and enhancing financial stability, which he described as essential pillars for any credible sovereign credit assessment.
“The road is long, but the important thing is to begin,” Husrieh said. “Syria is likely to start with a low rating, which is normal for countries emerging from conflict. The real value lies in the benchmark the rating sets and the roadmap for improvement it provides, not in the rating itself.”
U.S. President Donald Trump signed the Department of Defense budget law for fiscal year 2026 on Thursday, which includes a provision fully repealing the “Caesar Act,” making the repeal effective.
