The International Monetary Fund's director for the Middle East and Central Asia said on Friday that this week's IMF and World Bank spring meetings have presented an opportunity to reintroduce Syria into international discussions.
Syria's central bank governor and finance minister were in Washington this week to attend a meeting on their country, co-hosted by the leaders of the IMF and World Bank as well as Saudi Finance Minister Mohammed Al Jadaan. The visit was the first by Syrian officials to the US since the toppling of Bashar Al Assad's government late last year.
In an interview with The National, Mr Azour said the meetings have provided Syrian officials the chance to hold talks with representatives from the Middle East and North Africa, and to reinitiate the country to platforms that involve multilateral and regional co-operation.
"This is a country that has been absent from any international forum for more than 16 years," Mr Azour said.
This is a country that has been absent from any international forum for more than 16 years
Jihad Azour,
IMF regional director
The meeting followed dialogues in Paris, Brussels and AlUla - the latter being the site where an informal coalition was formed to help provide financial support for countries in the region, such as Syria and Lebanon, that have been devastated by war.
“We recognise that the region is at an important, transformative moment,” Mr Azour said.
Newly formed governments in Lebanon and Syria both offer some hope for citizens affected by conflict and economic turmoil. While Lebanon's new government is tasked with enacting a long list of structural reforms, Mr Azour said "the situation is more complex" in Syria.
In addition to bringing Syria back into the international fold, Mr Azour said Damascus faces the challenges of sanctions that have been in place since the Assad era and a lack of international recognition. These come on top of the country's reconstruction needs.
Syria's self appointed government, led by Ahmad Al Shara, is seeking to rally international support for its reconstruction and recovery needs, which could cost hundreds of billions of dollars. But US President Donald Trump's administration has not yet formally recognised it, and sanctions further complicate those efforts.
Mr Azour said this week's meetings have also provided Syrian officials with the chance to understand the complexity of sanctions still in place from the US and UN.
"It's a long track that would require political support, but also some technical work," he said, adding that the IMF is scaling up its team for Syria.
Mr Azour said Syria must also resolve the arrears it has accumulated with the World Bank, prove its debt is sustainable and that it is able to attract new debt.
"We know how to help countries," he said, adding that the IMF is working with Syrian officials to support them.
Syria has roughly $15 million in arrears to the World Bank, which must be paid off before it can provide assistance.
During a press briefing on Friday, IMF Managing Director Kristalina Georgieva said the fund, the World Bank and partner countries had discussed the need for credible data to rebuild Syria's central bank and expand on its capacity to create revenue.
"The fabric of Syrian society is deeply wounded. It's going to take a lot of work by the Syrians themselves to rebuild it," Ms Georgieva said.
She also confirmed the fund had appointed a mission chief to Syria. The fund conducted its last Article IV mission to Syria in 2009.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
Biog
Mr Kandhari is legally authorised to conduct marriages in the gurdwara
He has officiated weddings of Sikhs and people of different faiths from Malaysia, Sri Lanka, Russia, the US and Canada
Father of two sons, grandfather of six
Plays golf once a week
Enjoys trying new holiday destinations with his wife and family
Walks for an hour every morning
Completed a Bachelor of Commerce degree in Loyola College, Chennai, India
2019 is a milestone because he completes 50 years in business
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MATCH INFO
Serie A
Juventus v Fiorentina, Saturday, 8pm (UAE)
Match is on BeIN Sports
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
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ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
