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RIYADH: Syria will rejoin the Arab constituency at the International Monetary Fund from Nov. 1, ending its membership in the Russian Federation\u2019s group, which it joined in 2012, the Syrian Finance Ministry said. \u00a0<\/p>\n
The announcement followed a meeting between Finance Minister Mohammed Yisr Barnieh, Central Bank Governor Mohammad Safwat Raslan and Ali Al-Hosani, executive director for the Arab constituency at the IMF, on the sidelines of the 2026 IMF and World Bank annual meetings in Bangkok, Thailand, the Syrian Arab News Agency reported.\u00a0<\/p>\n
The officials discussed ongoing cooperation, including technical assistance, capacity building and preparations for Article IV consultations, which involve regular assessments of member countries\u2019 economic policies, according to a statement published by the ministry on its Telegram channel. \u00a0<\/p>\n
\u201cAl-Hosani stressed during the meeting the keenness of the Arab Office at the International Monetary Fund to follow up on the existing files between the Syrian ministries and institutions and the Fund, including technical support and capacity building,\u201d SANA reported.\u00a0<\/p>\n
The IMF\u2019s last Article IV consultation with Syria was in 2009. In August, the fund said double-digit economic expansion was expected in 2026, with strong growth continuing into 2027, while data gaps remained a constraint on economic assessment.\u00a0 Separately, the Kuwait Fund for Arab Economic Development is ready to resume development cooperation with Syria and contribute to reconstruction, its Acting Director-General Rashid Al-Bader said, according to the Kuwait News Agency.\u00a0<\/p>\n The initiative aligns with the directives of the country and is being carried out in close coordination with the Ministry of Foreign Affairs, he said.\u00a0<\/p>\n Speaking at a World Bank-organized roundtable on Syria\u2019s reconstruction in Bangkok, Al-Bader said the fund had extended 28 loans worth more than 330 million Kuwaiti dinars, or about $1 billion, to Syria over more than four decades. <\/p>\n The financing supported projects in energy, roads, telecommunications, irrigation, water and sanitation.\u00a0 The fund\u2019s readiness to resume engagement follows coordination with Kuwait\u2019s Foreign Ministry and reflects a potential return to development financing after years of conflict.\u00a0<\/p>\n<\/div>\n
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Kuwait Fund eyes Syria return\u00a0<\/strong><\/p>\n
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Development cooperation between the fund and Syria dates to 1969, he said. <\/p>\n