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.
Read next
16:30
IMF
IMF and World Bank meetings in Washington left global finance leaders with more questions than answers on the economic impact of U.S. tariffs. Discussions on trade and debt concerns highlighted growing uncertainty, as markets worry about the broader economic fallout.
17:54
Trump Tariffs
The IMF has lowered global and U.S. economic growth forecasts, citing Trump-era tariffs and rising uncertainty. Global growth is expected at 2.8% this year, while U.S. growth may slow to 1.8%, with heightened recession and inflation risks.
11:57
Argentina - IMF
rgentina sealed a $20 billion, 48-month Extended Fund Facility deal with the International Monetary Fund on Friday and, in a major policy move ahead of the deal, dismantled key parts of its years-long currency controls and loosened its grip on the peso.
10:44
Argentina - IMF
Since joining in 1956, Argentina has become the IMF’s biggest debtor. On Friday, it secured a new $20B deal—its 23rd program. The first dates back to 1958 with a $75M loan. In total, Argentina has received $177B from the IMF to fight inflation and repeated economic crises.
11:37
IMF
International Monetary Fund Managing Director Kristalina Georgieva issued a stark warning on Thursday, cautioning that the latest tariff measures announced by US President Donald Trump could deepen economic uncertainty and threaten global growth.
What is your opinion on this topic?
Leave the first comment