The International Monetary Fund (IMF) communicated this Tuesday that it has decided to provide "technical assistance" to Syria, following the visit of a delegation to Damascus to assess the progress of the economic reforms undertaken under the mandate of the transitional president, Ahmed al Shara.
Between July 19 and 23, the IMF mission held meetings with the Minister of Finance, Yisr Barnié, the Governor of the Central Bank, Saufat Raslan, and other high officials, in the context of the measures implemented by Al Shara's government to bolster the Syrian economy after the war and the exit from power of Bashar al Assad at the end of 2024.
According to a statement from the organization, the technical assistance program will allow the Syrian authorities to strengthen their capacities in the area of fiscal reforms, revenue mobilization, and public debt management.
"In 2025, the economy began to recover thanks to an improvement in consumer and investor confidence following the regime change, the return of nearly 1.5 million refugees, and the gradual reintegration of Syria into the regional and global economy; factors that helped counteract the negative impact on growth of a severe drought that adversely affected agriculture," noted Ron Van Rooden, who led the delegation.
Looking ahead to 2026, the IMF expects Syria's economic growth to reach "double-digit figures" driven by "agricultural recovery," "expansion of hydrocarbon production and electricity supply," as well as "continued growth in trade and the services sector."
"Economic activity is supported by the constant return of refugees, a notable increase in visitors, and, more generally, by the authorities' policies aimed at restoring macroeconomic stability and achieving a solid recovery led by the private sector," he said.
In this regard, the IMF estimates that growth in Syria "will remain strong" until 2027. "However, growth is uneven across different regions and poverty, although it has slightly decreased, remains widespread," he warned.
"The Central Bank of Syria has successfully managed the introduction of the new currency. However, monetary policy remains strongly conditioned by a highly dysfunctional banking system and by the lack of monetary policy instruments," he pointed out, adding that it is "crucial" to adopt new laws regarding the banking sector.
Likewise, he has called to "promote the reintegration of Syria into the international financial system" by strengthening "the framework for preventing money laundering and the financing of terrorism" so that the country can exit the list of the Financial Action Task Force (FATF).
Similarly, Van Rooden has pointed out that "due to the enormous needs" of the Arab country "in humanitarian and development matters, it remains necessary to have solid and timely international financial support."
"The sustainable reintegration of returning refugees and internally displaced persons requires support that goes beyond humanitarian assistance and also focuses on creating opportunities for productive employment, improving the provision of public services, and rehabilitating housing and infrastructure," he said.