Syria has announced its readiness to reconnect to the global economy by rejoining the Swift international payment system after years of sanctions and conflict.
According to Syria’s Central Bank chief, Abdulkader Husrieh, the bankers’ bank will resume operations “in a matter of weeks.”
This move will relink the country to the global economy after 14 years of war and sanctions that rendered it a pariah state.
This reconnection marks a significant shift for Syria, which has faced economic isolation since the onset of the civil war, impacting its trade and financial transactions
The move is to facilitate international trade and financial interactions, potentially aiding Syria’s economic recovery and stability.
According to Google, a “pariah state” refers to “a nation considered an outcast in the international community, often facing isolation, sanctions, or even invasion due to its policies, actions, or even its very existence.
It’s essentially a country that’s not accepted by other nations, typically because of its behaviour or adherence to international norms.”