IMF Plans Engagement to Rebuild Syria's Economy

The International Monetary Fund has announced plans to engage with Syria to help rebuild its post-war economy. Discussions during a recent staff visit emphasized Syria's 2026 budget plan, re-integration with the global economy, and the development of fiscal reform strategies. No financial aid was mentioned.

The International Monetary Fund (IMF) announced an 'intensive program of engagement' with Syria aimed at assisting the country in rebuilding its war-torn economy. However, no financial assistance discussions were disclosed following an IMF staff visit to Damascus.

Syria, under new leadership with President Ahmed al-Sharaa, has seen improved economic prospects as it shifts alliances from Iran towards the U.S. This is further bolstered by Syria's efforts to reintegrate with the global economy and the return of refugees. Discussions focused on the formulation of Syria's 2026 budget, aimed at boosting essential spending and realistic revenue strategies.

The IMF committed to providing technical assistance for revenue administration, tax legislation, and financial sector regulation. Efforts to enhance Syria's economic data, essential for future policy reviews, are underway. While no financial aid is confirmed, detailed reform roadmaps for fiscal and financial sectors were part of ongoing discussions.

(With inputs from agencies.)