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.
Australia has pledged $283 million to support a green hydrogen project led by explosives manufacturer Orica, aiming to boost renewable energy producti...
An unidentified North Korean man crossed the heavily guarded land border into South Korea and is currently in custody, according to the South’s Join...
Egypt on denounced Ethiopia’s completion of the Grand Ethiopian Renaissance Dam (GERD), warning that the move lacks any legally binding agreement an...
Turkish defence company Repkon will set up a 155-millimeter artillery ammunition filling facility in cooperation with Norwegian firm Nammo, aiming to ...
Australia has pledged $283 million to support a green hydrogen project led by explosives manufacturer Orica, aiming to boost renewable energy production and reduce industrial emissions.
Brazilian authorities have arrested a suspect linked to a cyberattack that diverted more than 540 million reais (about $100 million) from the country’s banking network.
An unidentified North Korean man crossed the heavily guarded land border into South Korea and is currently in custody, according to the South’s Joint Chiefs of Staff.
Egypt on denounced Ethiopia’s completion of the Grand Ethiopian Renaissance Dam (GERD), warning that the move lacks any legally binding agreement and undermines the water rights of downstream countries.
The European Commission is set to propose allowing carbon credits from other countries to count towards the EU’s 2040 climate target, according to a leaked internal document.
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
The United States has rescinded licensing restrictions on ethane exports to China, allowing shipments to resume after a temporary halt and signalling progress in efforts to ease recent trade tensions.
Italy plans to grant approximately 500,000 work visas to non-EU nationals between 2026 and 2028, as announced in a cabinet statement. The initiative aims to address labor shortages by expanding legal immigration pathways
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Brazilian authorities have arrested a suspect linked to a cyberattack that diverted more than 540 million reais (about $100 million) from the country’s banking network.
An unidentified North Korean man crossed the heavily guarded land border into South Korea and is currently in custody, according to the South’s Joint Chiefs of Staff.
Egypt on denounced Ethiopia’s completion of the Grand Ethiopian Renaissance Dam (GERD), warning that the move lacks any legally binding agreement and undermines the water rights of downstream countries.
Turkish defence company Repkon will set up a 155-millimeter artillery ammunition filling facility in cooperation with Norwegian firm Nammo, aiming to boost Denmark’s national ammunition production.
Equatorial Guinea has filed a case at the International Court of Justice (ICJ) to stop France from selling a disputed mansion in Paris and to regain full access to the property, the UN court said Friday.
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