Global Efforts to Rebuild War-torn Syria: A Collaborative Journey

Officials from the IMF, World Bank, and key countries met with Syrian authorities to discuss rebuilding efforts, emphasizing the need for credible economic data. Discussions focused on rebuilding Syria's central bank, creating revenue capacity, and supporting war-torn countries like Yemen, Sudan, and Lebanon. Saudi Arabia intends to pay off Syria's debt to the World Bank.

Global financial leaders convened with Syrian officials this week, underscoring the pivotal need for reliable economic data to pave the way for Syria's reconstruction. The discussions, held during the spring meetings of the IMF and World Bank in Washington, DC, featured prominent figures including IMF Managing Director Kristalina Georgieva and Saudi Arabia's Finance Minister Mohammed Al-Jadaan.

The meeting marked a significant milestone, being the first U.S. visit by Syrian leaders since former President Bashar al-Assad's ousting. Highlighting issues like rebuilding Syria's central bank and enhancing revenue generation, the dialogue also acknowledged the necessity of gradual international engagement due to existing sanctions.

Saudi Arabia's commitment to settle Syria's $15 million arrears to the World Bank aims to unlock critical grants for reconstruction. This initiative represents broader support for war-damaged regions, including Yemen and Lebanon. With institutions like the IMF appointing mission chiefs for Syria, a new chapter of economic policy development and societal rebuilding could commence.

(With inputs from agencies.)