DAMASCUS, Syria (AP) — Syria will need “substantial international" support for its efforts to rehabilitate the economy, meet urgent humanitarian needs, and rebuild essential institutions and infrastructure, the International Monetary Fund said Tuesday.
Syria cannot afford hundreds of billions of dollars of damages and losses from the conflict that first started as protests in 2011 against former President Bashar Assad's totalitarian government.
Since current President Ahmad al-Sharaa led an insurgency that ousted the Assad dynasty in December 2024, countries have gradually restored ties with Syria.
During a five-day visit by the IMF in early June — the first to Syria by the 191-country lending organization since 2009 — its team met with officials from the public and private sectors, notably the finance minister and central bank governor.
“Syria faces enormous challenges following years of conflict that caused immense human suffering and reduced its economy to a fraction of its former size,” the IMF said. “While the years of conflict and displacement have weakened administrative capacity, staff at the finance ministry and central bank demonstrated strong commitment and solid understanding.”
Some 6 million people fled Syria during the conflict, and the United Nations estimates that 90% of those who stayed lived in poverty and relied on humanitarian aid to survive. Half a million people were killed in the conflict.
Damascus now anticipates investments and business projects with Qatar, Turkey, Saudi Arabia, and others, as they reestablish flight paths and hold high-level political and economic meetings.
U.S. President Donald Trump said that Washington will lift decadeslong sanctions against Syria, but it is unclear how long that process could take. Britain and the European Union had eased some restrictions.
Meanwhile, oil-rich nations Saudi Arabia and Qatar paid off Syria’s debt to the World Bank, valued at near $15 billion.
The IMF said it is developing a roadmap for Syria's policy and capacity building priorities for key economic institutions, including the finance ministry, central bank, and statistics agency.
But Syria has a laundry list of reforms it must undertake, including improving its tax collection system, making sure its national budget can pay public sector salaries and basic healthcare and education, empowering the central bank to take measures to bring back confidence to the local currency, and rehabilitate its outdated and battered banking system in line with international standards.
In 2017, the United Nations estimated that rebuilding Syria would cost about $250 billion. Since Assad was overthrown, some experts say that number could be as high as $400 billion.
The Damascus Securities Exchange building is seen in Damascus, Syria, Monday, June 2, 2025. (AP Photo/Omar Sanadiki)
RABAT, Morocco (AP) — Mohamed Salah scored and Egypt eliminated defending champion Ivory Coast to move into the Africa Cup of Nations semifinals with a 3-2 victory on Saturday.
Salah nabbed his fourth goal of the tournament — Egypt’s third of the game — in the 52nd minute and the Pharaohs needed it as Ivory Coast threatened to twice come back from two goals down.
But Egypt held on in Agadir despite relentless Ivorian pressure and booked a semifinal date with 2021 champion Senegal in Tangier on Wednesday.
Ivory Coast had a woeful start as Franck Kessie lost the ball in midfield after a poor touch and Odilon Kossounou fell over instead of cutting out Emam Ashour’s ball for Omar Marmoush, who scored in the fourth minute.
Ramy Rabia produced a brilliant block to preserve the lead then scored himself with a header from a corner in the 32nd.
Ivory Coast finally pulled one back in the 40th when Ahmed Abou El Fotouh bundled in a dangerous Yan Diomande free kick that Kossounou headed on.
Salah restored Egypt’s two-goal cushion early in the second half when Rabia caught the Ivorian defense out with a long ball for Ashour, who set up Salah with the outside of his boot.
Guéla Doué pulled one back again with his heel in a goalmouth scramble after goalkeeper Mohamed El-Shenawy clawed the ball away in the 73rd, but the equalizer never came.
Egypt is bidding for a record-extending eighth title.
Victor Osimhen scored one goal and set up another for Nigeria to down Algeria 2-0 for its place in the semifinals.
The Super Eagles, who had a far from ideal preparation with reports of bonuses not being paid, will face host Morocco in the second semifinal in Rabat on Wednesday.
They needed patience in Marrakech against the team with the best defense in the tournament after failing to take their chances in the first half — Akor Adams fired over when he had only Luca Zidane in the Algeria goal to beat, and Calvin Bassey had another effort cleared off the line.
Osimhen finally scored after the break when he headed the ball back across Zidane’s direction of movement from Bruno Onyemaechi’s cross.
It was the first goal at the tournament conceded by Zidane, whose parents were in the stands again.
But it was quickly followed by the second.
Patient buildup play preceded Alex Iwobi’s pass to Osimhen, who unselfishly played across for Adams, who eluded the out-rushing Zidane and poked the ball into the empty net in the 57th.
Algeria coach Vladimir Petković reacted with three changes including the withdrawals of captain Riyad Mahrez and star forward Ibrahim Maza but there was nothing the Fennec Foxes could do to get back in the game against the confident and assured Nigerians, who remained in control throughout.
Adams struck the post when he looked certain to score the third.
Three-time champion Nigeria, which lost the final to Ivory Coast in the last edition, is bidding to win the title for the first time since 2013. It would help make up for the disappointment of failing to qualify for the World Cup — in contrast to Algeria.
AP at the Africa Cup: https://apnews.com/hub/africa-cup-of-nations
Egypt's Mohamed Salah, left, celebrates after scoring his side's third goal during the Africa Cup of Nations quarterfinal soccer match between Egypt and Ivory Coast, in Agadir, Morocco, Saturday, Jan. 10, 2026. (AP Photo/Mosa'ab Elshamy)
Egypt's Mohamed Salah celebrates after scoring his side's third goal during the Africa Cup of Nations quarterfinal soccer match between Egypt and Ivory Coast, in Agadir, Morocco, Saturday, Jan. 10, 2026. (AP Photo/Mosa'ab Elshamy)
Egypt's Mohamed Salah, right, scores his side's third goal during the Africa Cup of Nations quarterfinal soccer match between Egypt and Ivory Coast, in Agadir, Morocco, Saturday, Jan. 10, 2026. (AP Photo/Mosa'ab Elshamy)
Nigeria's Calvin Bassey, front, and Algeria's Redouane Berkane challenge for the ball during the Africa Cup of Nations quarterfinal soccer match between Nigeria and Algeria, in Marrakech, Morocco, Saturday, Jan. 10, 2026. (AP Photo/Themba Hadebe)
Algeria's Fares Chaibi, left, and Nigeria's Akor Adams challenge for the ball during the Africa Cup of Nations quarterfinal soccer match between Nigeria and Algeria, in Marrakech, Morocco, Saturday, Jan. 10, 2026. (AP Photo/Themba Hadebe)
Algeria's Rafik Belghali, left, and Nigeria's Akor Adams challenge for the ball during the Africa Cup of Nations quarterfinal soccer match between Nigeria and Algeria, in Marrakech, Morocco, Saturday, Jan. 10, 2026. (AP Photo/Themba Hadebe)
Nigeria's Victor Osimhen celebrates with teammates after scoring the opening goal during the Africa Cup of Nations quarterfinal soccer match between Nigeria and Algeria, in Marrakech, Morocco, Saturday, Jan. 10, 2026. (AP Photo/Themba Hadebe)
Nigeria's Victor Osimhen controls the ball during the Africa Cup of Nations quarterfinal soccer match between Nigeria and Algeria, in Marrakech, Morocco, Saturday, Jan. 10, 2026. (AP Photo/Themba Hadebe)
