The International Monetary Fund sent a mission to Syria this week to discuss the new government's reform priorities and technical assistance needs, the Washington-based lender said on Thursday.
“The next step would be how to pave the way for an eventual Article IV consultation,” IMF spokeswoman Julie Kozack told reporters, referring to the fund's annual economic check-ins with member countries.
The fund has not had an Article IV consultation with Syria in 15 years. In June, the IMF sent a mission to the country for the first time since the fall of Bashar Al Assad's regime.
The fund said Syria needs significant international assistance to support the new government's reconstruction and development efforts as it seeks to reintegrate itself into the global financial system.
This week's visit coincided with Syrian President Ahmad Al Shara's historic trip to Washington, where he held talks with IMF managing director Kristalina Georgieva.
Ms Kozack said discussions focused on Syria's economic challenges and opportunities, and how the IMF can support the country's economic rehabilitation.
“Our focus right now is on … policy advice that we can provide to Syria, and also, very importantly, capacity development and technical assistance aimed at rebuilding Syria's economic institutions,” Ms Kozack said.
The World Bank estimates it will cost roughly $216 billion to rebuild Syria's economy. Mr Al Shara said late last month that, so far, the country has attracted about $28 billion in foreign investment.
A significant amount of investment has come from Turkey and Gulf states,
Syria is also working with the US and IMF on a one-year compliance strategy to tackle money-laundering and terrorism-financing concerns. Those concerns, along with the Assad-era Caesar Act sanctions, remain key hurdles for Syria to attract new foreign investment.
Following Mr Al Shara's meeting with President Donald Trump at the White House on Monday, the US said was temporarily waiving the Caesar Act for 180 days with exceptions for sanctionable transactions with Russia and Iran. A permanent lifting would require congressional action.
Mr Al Shara's visit to Washington this week marked one of the most significant efforts Syria has made in its efforts to reconnect with the global economy.
And in a high-profile speech at the Future Investment Initiative summit in Riyadh last month, Mr Al Shara promised Syria would "rebuild every stone" that was destroyed during the civil war. He also held talks with Saudi Crown Prince Mohammed bin Salman.
Syrian officials were also in Washington during the IMF and World Bank autumn meetings last month to garner support from the international community to unlock foreign investment – the first time a Syrian delegation attended the semi-annual gathering since the outbreak of the country's civil war.
