Finance Minister Yasser Barnea confirmed, during the G24 ministerial meeting held on the sidelines of the annual meetings of the International Monetary Fund and the World Bank in Bangkok, that unfavorable geopolitical challenges are imposing increasing pressures on developing countries, especially those emerging from conflicts such as Syria. The Managing Director of the IMF and the Managing Director of the World Bank Group participated in the meeting, where the minister highlighted the Syrian economic situation in this international context.
For his part, the Finance Minister pointed out that Syria is making rapid progress in economic and financial reform tracks, with the aim of creating a conducive environment to attract investments in cooperation with international financial institutions and Syria's friends. Barnea stressed that Syrians look forward to these reforms having a positive impact on the level of services, job opportunities, and improving living standards in local communities, emphasizing that experience proves it is not possible to wait until the prerequisites for stability are fully met before starting reforms.
The minister added that building the economy and institutions cannot be done without obtaining sufficient concessional financing, stressing Syria's commitment to continuing reforms. He expressed his hope that the Fund, the Bank, and the international community would keep pace with Syria's reform efforts at the same speed, noting that the meeting provided an opportunity to meet with Kristalina Georgieva, Managing Director of the IMF, who confirmed to the Syrian delegation her welcome of a visit to Syria.
In the same context, Minister Barnea and Central Bank of Syria Governor Safwat Rusal had earlier discussed with World Bank Group President Ajay Banga the latest developments in financing provided to Syria and the progress of projects the Bank is implementing. Ways to enhance cooperation to support economic recovery were also reviewed, within the framework of joint efforts to achieve financial stability.
Source: Syrian Arab News Agency (SANA)
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