International financial leaders will discuss ways to restore aid to Syria during next week’s IMF and World Bank meetings.
Efforts to restore international financial support for Syria will be on the agenda at next week’s spring meetings of the World Bank and International Monetary Fund (IMF), though ongoing sanctions remain a major hurdle, a U.N. official said.
A roundtable focused on Syria, hosted by the Saudi government and the World Bank, is expected to take place on the sidelines of the annual financial gatherings in Washington.
As part of the initiative, Saudi Arabia plans to pay off approximately $15 million in Syria’s arrears to the World Bank, a move that could unlock millions in potential reconstruction grants and economic aid through the Bank’s International Development Association, which supports low-income countries.
Since the ousting of former Syrian President Bashar al-Assad last year following nearly 14 years of civil war, Syria’s new leadership has urged the international community to lift sanctions imposed during Assad’s rule.
However, most sanctions remain in place, with the U.S. and other Western nations insisting the new government must first demonstrate a commitment to inclusive and peaceful governance.
Syria also holds $563 million in Special Drawing Rights at the IMF, but accessing those funds requires approval from member countries holding 85% of the total vote share — giving the U.S., with 16.5%, the power to block any disbursement.
Syria’s finance minister, central bank governor, and foreign minister are all expected to attend the meetings next week.
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Think tanks from across the Turkic world gathered in the Turkish Republic of Northern Cyprus (TRNC) for the second edition of a major forum focused on regional cooperation, culture, and strategy.
Moroccan firefighters are battling wildfires for a fourth straight day in the Houara Forest near Tangier, as high temperatures and strong winds complicate efforts to contain the flames.
French President Emmanuel Macron arrived in Singapore Thursday for the final stop of his Southeast Asia tour.
U.S. Treasury official Scott Bessent said several large trade deals are nearing completion and that a potential call between President Donald Trump and Chinese President Xi Jinping may be needed to resolve complex issues in ongoing talks.
At least 21 people, including children, have died in floods triggered by heavy rains in Nigeria’s Niger state, officials said.
Think tanks from across the Turkic world gathered in the Turkish Republic of Northern Cyprus (TRNC) for the second edition of a major forum focused on regional cooperation, culture, and strategy.
Moroccan firefighters are battling wildfires for a fourth straight day in the Houara Forest near Tangier, as high temperatures and strong winds complicate efforts to contain the flames.
French President Emmanuel Macron arrived in Singapore Thursday for the final stop of his Southeast Asia tour.
U.S. Treasury official Scott Bessent said several large trade deals are nearing completion and that a potential call between President Donald Trump and Chinese President Xi Jinping may be needed to resolve complex issues in ongoing talks.
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