Meeting in Damascus
Syria's finance minister met the Saudi ambassador in Damascus on 23 October 2026 to review financial and economic cooperation between the two countries. The talks covered existing joint projects, the transfer of expertise, and agreements being prepared to match Syria's priority needs.
The two sides also discussed following up with the Saudi Fund for Development and speeding up its procedures. The ambassador pledged to facilitate cooperation and to support the financial reforms underway in Syria.
A Return to the IMF
The minister said consultations with the International Monetary Fund are expected to resume in the first quarter of 2027, the first such review in roughly 16 years. The step would mark a reopening of formal engagement with the fund after more than a decade of isolation.
A resumption would restore access to the fund's policy advice and technical support, which lapsed during years of conflict and sanctions.
Bonds and a Trust Fund
The government is studying the issuance of sovereign bonds on international debt markets next year and is in talks with banks and financial institutions, though no value or terms have been set. Officials are also setting up a trust fund with the World Bank and donor states — including Norway, the Netherlands, Qatar, and the United Kingdom — to finance recovery and reconstruction.
Budget and Arrears
The 2026 budget deficit is projected to fall below $1.8 billion (USD), according to the minister's own forecast. The projection suggests tighter financing needs than in recent years, though the figure remains an estimate rather than a final account.
He said the government has made progress in settling arrears owed to creditor states and international institutions, without giving figures.
Gulf Engagement
The Damascus meeting followed an earlier session on 10 October 2026 with a delegation from the Saudi Export Development Authority on expanding trade and investment. The exchanges point to a widening of Gulf financial engagement as the government seeks external funding for its recovery plans.