IMF team makes first Syria visit since 2009 ...Middle East

The International Monetary Fund’s trip to Damascus took place from June 1 to June 5, and its team sought to discuss authorities’ priorities and how to help achieve them.

“Syria faces enormous challenges following years of conflict that caused immense human suffering and reduced its economy to a fraction of its former size,“ said Ron van Rooden, who led the visit.

“Output has plummeted, real incomes have fallen sharply, and poverty rates are high,“ he said, adding that state institutions have also been weakened with much infrastructure destroyed.

Much of Syria’s infrastructure has been destroyed by the war, which began with a bloody crackdown on pro-democracy protests.

Last month, the IMF said it had held useful discussions with Syria’s economic team.

In April, Saudi Arabia and Qatar announced that they would settle Syria’s debt to the World Bank totaling about $15 million.

The World Bank suspended operations in Syria when the war began. The settlement of its arrears will allow it to resume accessing the bank’s financial support and technical advice.

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