Kassioun Editorial 1253: Why the International Monetary Fund Again?
The official statements made last July—chief among them the remarks of the Governor of the Central Bank of Syria, who affirmed that, in accordance with the directives of the Presidency of the Republic, the country would not resort to external debt nor borrow from the IMF or the World Bank—had reassured Syrians who know all too well the “formulas” of these two institutions and the heavy prices they entail. The policies previously tried in Syria under the banners of “reform” and “liberalization” produced nothing but the systematic destruction of the living standards of the poor, a rapid erosion of the role of the state, and a massive social explosion whose costs the country continues to pay today.