Minister Signals Bond Plan
Syria's finance minister, Mohammad Yosr Barnieh, said on 18 October 2026 that the government is studying the issuance of international bonds during the coming year. The size and maturities of any sale have not yet been set, and talks with banks and financial institutions are under way.
He described the step as part of a gradual effort to build the country's credit rating, a measure of how safely it can borrow, after years of isolation from global debt markets.
No timeline for a first issue was given, and the minister indicated that any move would depend on the continuing talks.
Reconstruction Trust Fund
In parallel, the government is working with the World Bank and a group of donor states — Norway, the Netherlands, Qatar, and the United Kingdom — to establish a credit trust fund for recovery and reconstruction.
The fund's stated aims are to coordinate donor contributions, finance strategic projects, and ensure governance and integrity in how the money is spent. No overall size for the fund was given.
Deficit and Arrears
Barnieh said progress had been made on settling arrears owed to creditor states and international institutions. He projected that the budget deficit for this year would fall below $1.8 billion (USD).
Return to the IMF
Consultations with the International Monetary Fund under its Article IV review are expected to resume in the first quarter of 2027. It would be the first such review in roughly 16 years. The review is a standard assessment of a member country's economy and public finances.
Rebuilding Financial Ties
The minister also pointed to a virtual meeting held earlier in the week with senior officials of Bank of America and representatives of the advisory firm Kroll. The talks covered developing the financial sector, including anti-money-laundering and counter-terrorism-financing controls.