IMF and World Bank Welcome Efforts to Reintegrate Syria into the International Community
In a joint statement last night, the International Monetary Fund (IMF) and the World Bank expressed their support for efforts aimed at reintegrating Syria into the international community. The statement highlighted a shared understanding of the urgent challenges facing the Syrian economy and affirmed a collective commitment to assist the Syrian authorities in their recovery and development efforts, as reported by AFP. Priority will be given to initiatives that address the basic needs of the Syrian people, rebuild institutions, and develop a national strategy for economic recovery.
During a press conference, IMF Managing Director Kristalina Georgieva stated, “Our primary goal is to help Syria rebuild its institutions so that it can integrate into the global economy.” Georgieva noted that for the first time in over 20 years, they held a meeting with Syrian representatives earlier this week, which included the governor of the central bank and the Syrian minister of finance.
Jihad Azour, the Director of the Middle East and Central Asia department at the IMF, offered insights on the discussions with Syria during a press conference focused on the economies of the Middle East and Central Asia, according to the Turkish Anadolu news agency.
Azour emphasized that Syria has economybeen largely absent from the international arena for the past 15 years, and its interactions with the IMF have been very limited since 2011.
He stressed that the international community is now actively exploring ways to support Syria’s recovery after a prolonged conflict. Azour also mentioned that a coordination meeting was held last Tuesday with representatives from various international institutions to assess Syria’s needs and establish a framework for collaboration. He stated, “The fund is working to support the international community in its engagement with Syria. We have already begun evaluating the macroeconomic situation and institutional capabilities, and we look forward to continuing our cooperation with the new Syrian authorities.”
Amal Farhat