Kristalina Georgieva, the Executive Director of the International Monetary Fund (IMF), announced the IMF's readiness to support Syria and stated that the Fund has initiated communication with Syrian officials to understand the needs of key institutions such as the Central Bank of Syria.
اضافة اعلان
In a press statement on the sidelines of the Al-Ula Conference for Emerging Market Economies, which launched in Al-Ula, Saudi Arabia, on Sunday, Georgieva explained that the current communication aims to secure support to help build the capabilities of these institutions so they can operate effectively, benefiting both the economy and the people.
Regarding the time it might take for the IMF to close the data gap and launch an initial program, she said: "It depends on the authorities in Damascus; they are the ones who will determine the nature and speed of communication. Syria is a very important country for its people and for the entire region, and we will act as much as the circumstances allow."
This communication follows a 16-year break, which has led to a data gap for the IMF concerning the Syrian economy. According to reports from both the World Bank and the United Nations, the costs for Syria's reconstruction could reach as high as $300 billion.
The Al-Ula Conference also discussed issues like removing sanctions on Syria to enable its economic prosperity and recovery, creating an economic roadmap for the country, Syria's representation at the World Bank and IMF, exploring technical assistance from both institutions, and reintegrating the Central Bank of Syria into the international system, according to SANA.
