Syrian Minister of Finance: Our participation in the spring meetings has attracted wide international attention.

Dr. Mohammad Yasser Barnieh, the Minister of Finance in the Syrian caretaker government, announced the main outcomes of Syria's participation in the joint spring meetings between the International Monetary Fund and the World Bank in Washington, indicating that these meetings carried positive and significant messages for the future of the Syrian economy.

Barnieh explained that the primary goal of the participation was to enhance Syria's reintegration into the international community and the global financial system, alongside building strategic partnerships with international financial institutions.

He emphasized that the Syrian delegation received a warm welcome and great interest from the International Monetary Fund, the World Bank, as well as from regional and international countries and institutions.

Clear international support at the Syria roundtable

The minister revealed the success of the Syria roundtable, which saw high-level participation including the President of the World Bank Group, the Managing Director of the International Monetary Fund, ministers from the G7 countries, as well as Arab finance ministers and heads of regional and international institutions. He noted that this substantial presence reflects clear international support for reconstruction efforts in Syria.

Barnieh also expressed his gratitude to the Kingdom of Saudi Arabia for its pivotal role in organizing this meeting, appreciating His Excellency Minister Mohammed Al-Jadaan, and thanking Saudi Arabia, Qatar, the UAE, Jordan, and Turkey for their declared support for the stability of Syria.

Focus on technical support and capacity building instead of loans

Barnieh affirmed that Syria is currently not seeking loans from international institutions, but is focusing on enhancing technical support, capacity building, and knowledge transfer to support economic reform and recovery efforts.

He added that international missions will arrive in Syria starting tomorrow to assess basic needs, especially in the energy and electricity sectors, institution restructuring, improving the legislative and investment environment, with significant emphasis on the role of the private sector.

Financial reforms and anti-corruption top priorities

The Finance Minister pointed out that the Syrian government gives top priority to modernizing financial management, enhancing transparency, adhering to international standards, as well as intensifying efforts to combat corruption, money laundering, and terrorism financing.

International sanctions... a "stumbling block" requiring reconsideration

Despite some easing by the UK and the EU, Barnieh considered that international sanctions still pose a significant obstacle to economic recovery, affirming that the political, ethical, and economic circumstances on which these sanctions were based are no longer valid. He indicated a growing international understanding of the necessity to lift them.

An optimistic message to investors and a call for refugees' return

In conclusion, the minister directed an optimistic message to Arab and foreign businessmen and investors, urging them to invest in Syria, emphasizing that reconstruction will be achieved through the efforts of Syrians with the support of brothers and friends. He also stressed the importance of enhancing social protection networks and combating poverty to facilitate the return of refugees to their homeland.