VOL. XLII

No. 12

22-March-1999

SYRIA

Syria Takes Steps Towards Easing Foreign Exchange ControlsFor Exporters

Signs that Syria is taking tentative steps towardsliberalizing its stringent foreign exchange controls and building amarket-oriented economy are beginning to appear. On 7 March Syrian officialssaid the country is to set up an export development bank with capital of S1bn($21.6mn) aimed at encouraging private sector exports. Mr. Muhammad Imadi,Minister of Economy and Foreign Trade, said the...