No loans from the IMF…and new procedures soon in the “salaries” file.

The Governor of the Central Bank of Syria, Abdul Qader Al-Husria, confirmed that Syria is not seeking to obtain loans or enter into financing programs with the International Monetary Fund, stressing that everything that has happened so far falls within the framework of technical consultations and obtaining grants only, in a way that guarantees the independence of the state’s monetary and financial decision.
Al-Hosria told Emirates Today, on the sidelines of the World Government Summit in Dubai, that discussions with the International Monetary Fund began last April in Washington, and were later completed through multiple consultations, explaining that the recent meetings held on the sidelines of the World Government Summit focused on discussing the prospects for technical cooperation and whether there is room to expand joint work in the coming years.
He added: “We are not looking for financial facilities from the IMF, nor are we looking for any financing programs or loans, and all we have obtained so far are grants,” pointing out that this approach “gives us complete independence in formulating our monetary and economic policies.”
Al-Hosariyya pointed out that Syria received a country that was “fragile with all its institutions” as a result of the years of war, but within only a few months stability was achieved in the exchange rate, along with measures that included changing the currency and lifting sanctions, considering that what was achieved came as a result of “a clear will, a thoughtful vision, and continuous consultation with various parties.”
He explained that the Central Bank is today in an advanced stage of institutional reform, revealing the preparation of a strategic plan for the coming years that includes five main pillars, five enablers, 18 strategic goals, and 75 reform projects and initiatives, aiming to rebuild the financial sector and enhance its efficiency.
Regarding the file of salaries and wages, Al-Hosariyya stressed that reconsidering salaries has become inevitable, in light of the major imbalance that affected the wage structure as a result of the war, explaining that the Syrian pound lost about 99% of its value, which was directly reflected in the purchasing power of citizens.
He said: “We know exactly the extent of the imbalance in salaries, and that is why the review and correction process has begun. Last year witnessed a raise in salaries, and this process will continue until we reach an appropriate salary level,” stressing that work is underway on new procedures expected in the salary file during the current year.
He added that economic reform cannot succeed without maintaining job competencies, noting that restructuring salaries aims to achieve greater justice, motivate employees, and maintain competencies within state institutions, in parallel with eliminating corruption and enhancing transparency.
Al-Hosariyya stressed that the path of economic reform is continuing, and that the year 2026 brings “good news for all Syrians,” as a result of the reform steps that are currently being worked on.