The International Monetary Fund (IMF) confirmed today that it is working with Syria’s new authorities to explore ways to provide assistance, emphasizing the importance of lifting sanctions to advance recovery and reconstruction efforts.

Engagement with New Syrian Authorities
IMF Communications Director Julie Kozack told reporters, "We are closely monitoring developments in Syria, and our staff are preparing to support the international community’s efforts to help rehabilitate Syria’s economy as conditions permit."

She added, "We have held productive discussions with the new economic team appointed in late March, including during the Spring Meetings," noting that IMF staff have already begun "rebuilding their understanding of Syria’s economy through engagement with authorities and coordination with other international financial institutions."

Focus on Institutional Rebuilding
Kozack stressed that Syria "will need substantial assistance to rebuild its economic institutions," affirming the IMF’s readiness to provide "targeted, priority technical advice and assistance within our areas of expertise."

She highlighted the need to "work with Syrian authorities to rebuild core economic institutions, including the capacity to produce economic statistics, so the IMF, Syrian officials, and the international community can conduct necessary economic analyses."

On Sanctions and IMF Support
Regarding sanctions, Kozack noted that "lifting sanctions is a matter for IMF member states. In dire cases like this, we can only emphasize that removing sanctions could support Syria’s efforts to overcome economic challenges and accelerate reconstruction and development."

She reiterated that Syria "remains an IMF member, and we are deeply engaged with Syrians to explore how—within our mandate—we can best support them."

World Bank Clears Syria’s Arrears, Restores Eligibility
In a related development, the World Bank announced last Friday that Syria’s 14-year overdue debt of $15.5 million to the International Development Association (IDA) had been settled through payments by Saudi Arabia and Qatar, restoring Syria’s borrowing eligibility.

A statement clarified that "as of May 13, 2025, the arrears have been resolved" through contributions from both nations. Consequently, Syria is "now eligible for new financing, subject to compliance with the Bank’s operational policies."

The Bank also confirmed that "as of May 12, 2025, no remaining balances are outstanding under Syria’s IDA credits."

U.S. Signals Openness to Support New Syrian Government
Meanwhile, U.S. Secretary of State Marco Rubio affirmed on Tuesday Washington’s willingness to assist Syria’s government "to succeed," marking a shift in U.S. policy following President Donald Trump’s decision to lift sanctions on Damascus.

Testifying before the Senate Foreign Relations Committee on the State Department’s budget request, Rubio stated: "We don’t have an embassy in Syria—it operates out of Turkey—but we must help them. We want this government to succeed because the alternative is full-scale civil war and chaos, which would destabilize the entire region."