Talks in Damascus
Syria's finance minister, Muhammad Yasir Barniah, met a delegation from the International Monetary Fund's public financial management department on 12 June 2026 to discuss technical cooperation on reforming the country's tax and customs administration. Officials from the General Customs Authority, the General Tax and Fees Authority, and the foreign ministry's international cooperation administration joined the meeting.
Reform Priorities
The discussions centered on modernizing tax and customs systems, strengthening compliance and revenue collection, and streamlining administrative procedures. Participants also weighed the digital transformation of fiscal operations and the building of institutional capacity across the agencies that handle public revenue.
The Fund's side said it was ready to provide technical support, specialized consultation, and training in priority areas, with a focus on the staff who run the tax and customs services.
Pound Under Pressure
The talks come as the Syrian pound (SYP) has weakened by roughly 4 percent against the US dollar (USD) over the past week, trading near 14,470 to the dollar on 13 June 2026. Stronger revenue collection and a more predictable customs regime are central to the fiscal stability that underpins the currency.
Return to Global Finance
The meeting is part of a broader effort to reconnect Syria with international financial institutions. In May 2026 the finance minister attended a Group of Seven finance ministers meeting in Paris, where he reviewed the government's financial reforms and discussed reintegrating the economy into global systems.
What Comes Next
No formal agreement was detailed at the meeting, which mapped out areas where the Fund could assist rather than binding commitments. The minister stressed the need for close coordination between the finance ministry and the customs authority as the reform agenda moves forward.