Abdul Qader Husariya, governor of the Central Bank of Syria, said on Friday that Syria will not borrow from abroad.
Husariya confirmed that, by order of President Ahmad al-Sharaa, Syria will avoid loans from the International Monetary Fund and the World Bank.
He noted the Syrian pound has strengthened by 30 percent since the fall of Bashar al-Assad’s regime in late 2024.
Husariya said the government does not intend to peg the currency to the US dollar or euro. Instead, it aims to build a stable economy based on production and exports, without depending on high interest rates or risky investments.
He added that Syria is entering a phase of full economic recovery across all sectors, with an improved investment climate offering steady returns.
Recent decisions by the U.S. and Europe to ease sanctions, including a US executive order on June 30, have given a boost to Syria’s economy.
Plans include establishing a deposit insurance system for Syrian banks, unifying the exchange rate, and offering real estate loans to Syrians living abroad.
In June, Syria made its first direct international bank transfer in 13 years via the SWIFT system, marking progress in opening the banking sector.
Amid fragile calm, António Guterres urged constructive U.S.- Iran talks, while Pope Leo XIV warned violence is spreading. Lebanon's Pres...
Afghanistan’s foreign ministry says the Asian Development Bank (ADB) has pledged continued cooperation after...
Iran’s Supreme Leader Ayatollah Seyed Mojtaba Khamenei has declared a “decisive victory” over the U.S. and Israel, signalling a &...
A charity co-founded by Prince Harry in honour of his late mother, Princess Diana, is suing him for libel at the High Court in London, according to...
Uzbekistan is advancing plans to reduce the state’s role in the economy while introducing a VAT refund system for foreign visitors, as part o...
Amid fragile calm, António Guterres urged constructive U.S.- Iran talks, while Pope Leo XIV warned violence is spreading. Lebanon's President said an Israeli strike killed 13 security personnel in Nabatieh.
Iran’s Supreme Leader Ayatollah Seyed Mojtaba Khamenei has declared a “decisive victory” over the U.S. and Israel, signalling a “new phase” in Tehran’s control of the strategic Strait of Hormuz.
Uzbekistan is advancing plans to reduce the state’s role in the economy while introducing a VAT refund system for foreign visitors, as part of broader efforts to attract investment and boost tourism.
The European Union and Washington are nearing an agreement to coordinate the production and security of critical minerals, Bloomberg News reported on Friday (10 April).
Israeli Prime Minister Benjamin Netanyahu says he has given an instruction for Israel to begin peace talks with Lebanon that would also include the disarming of Hezbollah.
Afghanistan and Pakistan have agreed to continue dialogue and avoid steps that could worsen tensions after China-hosted talks in Urumqi, with Kabul and Beijing saying the meetings focused on easing differences and improving relations.
Amid fragile calm, António Guterres urged constructive U.S.- Iran talks, while Pope Leo XIV warned violence is spreading. Lebanon's President said an Israeli strike killed 13 security personnel in Nabatieh.
Memorial events were held in Tehran’s main squares on Wednesday (8 April) to mark the 40th day since the killing of former Supreme Leader Ayatollah Ali Khamenei, who died during U.S.-Israeli attacks on 28 February.
Dubai has restricted foreign airlines to one daily flight to its airports until 31 May due to the Iran crisis, raising fears of significant revenue losses for Indian carriers, industry letters show.
A charity co-founded by Prince Harry in honour of his late mother, Princess Diana, is suing him for libel at the High Court in London, according to a court record published on Friday (10 April).
The European Union and Washington are nearing an agreement to coordinate the production and security of critical minerals, Bloomberg News reported on Friday (10 April).
In a forceful rebuke to Washington’s foreign policy in the Americas, a senior Russian diplomat has declared that Moscow will never abandon Cuba, pledging ongoing support to help the Communist-run island overcome a severe energy crisis linked to the United States embargo.
Hungary votes on Sunday in a parliamentary election that could loosen Viktor Orbán’s 16-year hold on power. His ruling Fidesz faces a strong challenge from Péter Magyar’s Tisza party, which has led some polls, though many voters remain undecided.
While a fragile ceasefire in the Iran war may deliver badly needed relief to economies battered by the world’s worst-ever energy crisis, hopes it will quickly restore normal oil and gas flows from the Middle East are almost certainly misplaced.
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