Damascus: Officials from the International Monetary Fund visited Syria's capital Damascus from June 1-5 to assess economic and financial conditions and discuss with the authorities their economic policy and capacity-building priorities to support recovery of the country's economy. The visit marked the first official visit of IMF staff to Syria since 2009, before the country's 13-year civil war.
According to Anadolu Agency, the IMF released a statement on Tuesday highlighting the Syrian authorities' determination to rehabilitate the country's economy amidst significant challenges. The Fund emphasized the importance of restoring public confidence and macroeconomic stability through sound fiscal and monetary policies. Additionally, the statement underscored the need for substantial international assistance, including concessional financial support and capacity development, to help Syria meet urgent humanitarian needs and rebuild essential institutions and infrastructure.
The statement, which included assessments from IMF Syria Mission Chief Ron von Rooden, highlighted the major challenges Syria faces after years of conflict. It cited the displacement of around 6 million people to neighboring countries, the internal displacement of 7 million people, a significant decline in economic output, and high poverty levels. State institutions have weakened, basic services have been disrupted, and much of the country's infrastructure has been damaged or destroyed, leading to large humanitarian and reconstruction needs.
The statement stressed the urgency of addressing these challenges to achieve sustainable economic recovery and accommodate the increasing number of returning refugees. The IMF mission reaffirmed its commitment to support Syria, developing a detailed roadmap for policy and capacity-building priorities with a focus on key economic institutions such as the Finance Ministry, Central Bank, and state statistics agency.