Statement on the Engagement of the IMF and the World Bank in Syria
3 Minutes
Home / Statement on the Engagement of the IMF and the World Bank in Syria
The Syrian Initiative for Fundamental Rights (SIFR) warns that the current mode of cooperation with the IMF and the World Bank reproduces pre-2011 policies, characterized by rigid fiscal consolidation and unregulated privatization, while neglecting governance and justice. The statement calls for a political economy approach that accounts for distribution, conflict sensitivity, and social protection.
This approach entrenches a recurring pattern of external support for policies presented as ‘reforms,’ which in practice rely on extensive price liberalization, fiscal and monetary tightening, and the dominance of cronyism. This facilitates the seizure of public assets and investment opportunities without transparency or accountability.
Furthermore, judging ‘reform success’ cannot rely on narrow macroeconomic indicators, such as achieving limited fiscal surpluses or curbing inflation, while core productive sectors continue to contract, purchasing power declines, and social fragility expands. This path does not represent a sustainable economic recovery, but rather a limited accounting improvement accompanied by mounting socio-economic pressures.
Accordingly, SIFR urges the IMF and the World Bank to reconsider their approach in Syria and adopt a conflict-sensitive, rights-based framework that prioritizes production and sustainable, inclusive development
Categories: Statements
Statements
Statement on the Engagement of the IMF and the World Bank in Syria
Click here to download the full statement
Statement
Statement on the Engagement of the IMF and the World Bank in Syria
3 Minutes
Download in Arabic
Download in English
The Syrian Initiative for Fundamental Rights (SIFR) warns that the current mode of cooperation with the IMF and the World Bank reproduces pre-2011 policies, characterized by rigid fiscal consolidation and unregulated privatization, while neglecting governance and justice. The statement calls for a political economy approach that accounts for distribution, conflict sensitivity, and social protection.
This approach entrenches a recurring pattern of external support for policies presented as ‘reforms,’ which in practice rely on extensive price liberalization, fiscal and monetary tightening, and the dominance of cronyism. This facilitates the seizure of public assets and investment opportunities without transparency or accountability.
Furthermore, judging ‘reform success’ cannot rely on narrow macroeconomic indicators, such as achieving limited fiscal surpluses or curbing inflation, while core productive sectors continue to contract, purchasing power declines, and social fragility expands. This path does not represent a sustainable economic recovery, but rather a limited accounting improvement accompanied by mounting socio-economic pressures.
Accordingly, SIFR urges the IMF and the World Bank to reconsider their approach in Syria and adopt a conflict-sensitive, rights-based framework that prioritizes production and sustainable, inclusive development
