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.
Firefighters across Greece and the Western Balkans are battling widespread wildfires as southern Europe endures its third heatwave of the summer. Seve...
Russia’s Ministry of Defence announced on Saturday that its forces had captured two villages in eastern Ukraine, including one located in the Dnipro...
The Israeli military announced on Saturday that it has resumed airdropped humanitarian aid to the Gaza Strip, just days after more than 100 internatio...
Thailand and Cambodia have agreed to meet for ceasefire talks after days of deadly border fighting that has killed more than a dozen people and forced...
Australia and the United Kingdom have signed a landmark 50-year treaty to cement their partnership under the AUKUS nuclear submarine programme....
Firefighters across Greece and the Western Balkans are battling widespread wildfires as southern Europe endures its third heatwave of the summer. Several villages and settlements in Greece and Albania were evacuated on Saturday as flames spread rapidly due to high temperatures and strong winds.
Russia’s Ministry of Defence announced on Saturday that its forces had captured two villages in eastern Ukraine, including one located in the Dnipropetrovsk region — a new front where Moscow claims its troops are advancing.
The recent trilateral summit in Lachin, Azerbaijan, has strengthened the growing diplomatic connections between three Muslim nations — Pakistan, Azerbaijan, and Türkiye
The Israeli military announced on Saturday that it has resumed airdropped humanitarian aid to the Gaza Strip, just days after more than 100 international aid agencies warned of spreading mass starvation in the besieged enclave.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
Firefighters across Greece and the Western Balkans are battling widespread wildfires as southern Europe endures its third heatwave of the summer. Several villages and settlements in Greece and Albania were evacuated on Saturday as flames spread rapidly due to high temperatures and strong winds.
Russia’s Ministry of Defence announced on Saturday that its forces had captured two villages in eastern Ukraine, including one located in the Dnipropetrovsk region — a new front where Moscow claims its troops are advancing.
The Israeli military announced on Saturday that it has resumed airdropped humanitarian aid to the Gaza Strip, just days after more than 100 international aid agencies warned of spreading mass starvation in the besieged enclave.
Thailand and Cambodia have agreed to meet for ceasefire talks after days of deadly border fighting that has killed more than a dozen people and forced over 150,000 civilians to flee.
Australia and the United Kingdom have signed a landmark 50-year treaty to cement their partnership under the AUKUS nuclear submarine programme.
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