Syria Calls for Concessional Financing to Accelerate Economic Reforms
Syrian Minister of Finance, Mohammad Yassarniya, has stated that Syria is moving forward with an accelerated reform agenda aimed at strengthening the national economy and creating an environment conducive to investment. The remarks were made during his participation in the ministerial meeting of the G24 group in Bangkok, held on the sidelines of the annual meetings of the International Monetary Fund and the World Bank.
Minister Yassarniya emphasized that Syria is keen to deepen its cooperation with international financial institutions. During the proceedings, he noted that current geopolitical developments and persistent economic challenges are placing mounting pressure on developing nations, particularly those working to recover from the impact of conflict.
Highlighting the Syrian experience in economic reform, the Minister explained that building a resilient economy and robust institutions requires a delicate balance. He argued that it is not feasible to wait for all components of economic stability to be fully realized before initiating structural reforms. However, he also stressed that such reforms cannot be successfully implemented in the absence of sufficient and concessional financing.
In tandem with these multilateral discussions, Minister Yassarniya and the Governor of the Central Bank of Syria, Safwan Raslan, held a meeting with World Bank Group President Ajay Banga. The discussions focused on updates regarding funding provided to Syria and the progress of projects currently being implemented by the Bank within the country. These meetings are intended to bolster joint cooperation to support economic recovery, improve public services, and increase economic opportunities for local communities.
Furthermore, the Syrian delegation met with the Managing Director of the International Monetary Fund, Kristalina Georgieva. During the meeting, Georgieva expressed her appreciation for the Syrian visit, a gesture interpreted as reflecting international interest in the evolution of Syria’s economic trajectory. Minister Yassarniya reaffirmed the Syrian government’s commitment to its economic and financial reform program. He expressed hope that the international community and global financial institutions would support these efforts with the necessary momentum to ensure tangible results that benefit citizens and generate job opportunities.
These diplomatic and economic engagements form part of a broader Syrian initiative to strengthen ties with international institutions. The government aims to establish effective partnerships that help overcome the financial obstacles facing reconstruction projects, stimulate vital economic sectors, and ensure the long-term sustainability of initiatives planned in collaboration with regional and international partners.
Source: Syria Focus Arabic
