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.
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Saudi Arabia said its air defences destroyed a Houthi drone south of Mecca before it could enter prohibited airspace over the holy city, as attacks by the Iran-aligned group deepen regional tensions.
Russian air strikes injured 13 and damaged buildings in the Ukrainian capital of Kyiv and in the Black Sea port city of Odesa in the early hours of Thursday, officials said on the Telegram messaging app.
Ukrainian President Volodymyr Zelenskyy said that Ukraine was carrying out tests on a new weapon to intercept drones and had recorded a successful hit overnight.
U.S. President Donald Trump said on Wednesday he hoped the war against Iran was nearing its end and that Tehran wanted to reach a deal, but Iran dismissed his comments as “mixed signals” as the conflict approaches its seventh month.
Iran's Revolutionary Guards Navy said a Togo-flagged oil tanker was struck while attempting to make an “illegal passage” through the Strait of Hormuz, Iranian state media said early on Friday.
Saudi Arabia’s 1,200‑kilometre East‑West pipeline Petroline has been forced to suspend service after militant attacks damaged three pumping stations in the Riyadh and Madinah regions. The line can move about seven million barrels a day, but the damage could take five to six weeks to repair.
Three students were killed in a school shooting in the southern Philippines on Friday, including a 16-year-old suspected gunman who turned the gun on himself, provincial officials said.
The European Union will disburse €3.3 billion ($3.8 billion) to Ukraine for missiles and drones, European Commission President Ursula von der Leyen said after a phone call with Ukrainian President Volodymyr Zelenskyy.
Russian air strikes injured 13 and damaged buildings in the Ukrainian capital of Kyiv and in the Black Sea port city of Odesa in the early hours of Thursday, officials said on the Telegram messaging app.
An Afghan national linked to an Islamic State affiliate in Afghanistan has been sentenced to 20 years in prison in connection with the 2021 Kabul airport suicide bombing that happened during a chaotic scene as the Taliban retook the country.
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