Minister Burnia: Financial system reform is a priority.. and we will not resort to borrowing.

The Syrian government has announced the arrival of international missions in Damascus to participate in a comprehensive workshop on financial and economic reform.

Finance Minister Mohammad Bernia reiterated that these visits aim to exchange technical expertise and institutional support, not to secure new funding from international organizations.

The minister explained to "Al-Sharq" channel that the priority lies in building local capacities through leveraging international expertise, focusing on establishing transparency and sustainability in the financial system, away from external borrowing options.

Bernia also highlighted the Saudi role in facilitating international dialogue on Syria, noting that Saudi Arabia played a pivotal role in the success of the roundtable held on the sidelines of the IMF and World Bank meetings.

In a related context, official accounts on LinkedIn revealed details of a meeting between the Syrian Finance Minister and Adrian Tobias, Director of the Monetary and Capital Markets Department at the IMF, where an assessment mission was agreed upon to identify the needs of the Syrian financial sector, focusing on updating financial infrastructure and enhancing banking supervision.

On the other hand, the Governor of the Central Bank of Syria, Abdel Qader Husrayeh, announced progress in discussions with the Turkish side regarding enhancing banking cooperation, including studying the possibility of opening branches of Turkish banks in Syria to support trade and investment between the two countries.

IMF officials emphasized the necessity of accurate and transparent financial data as a fundamental requirement for any successful reform, requiring close cooperation between the Syrian side and international institutions.

The Syrian government presented its vision for reform, focusing on rehabilitating vital infrastructure, supporting the private sector, and improving living conditions for citizens, within a comprehensive plan aimed at gradually and sustainably rebuilding the national economy.