TUNIS—Syria has invited international suppliers to submit bids to print new batches of its national currency, the Syrian pound, in an effort to stabilize the economy and address mounting inflation, the country’s central bank governor announced on Wednesday. Abdelkader Husrieh, Governor of the Central Bank of Syria, revealed the plan while attending a summit of Arab central bank governors in Tunis. He said the government intends to finalize agreements and complete the printing process within three months. “The Syrian pound has faced significant depreciation due to prolonged conflict, sanctions, and structural economic challenges,” Husrieh told reporters. “Issuing new notes is part of a broader monetary strategy aimed at improving liquidity and ensuring smoother circulation of cash.” Syria has struggled with one of the sharpest currency declines in the region, with the pound losing much of its value against the U.S. dollar since the start of the civil war in 2011. Inflation has soared, leaving many Syrians struggling to afford essential goods. The printing of new currency notes is expected to replace old, worn-out bills and respond to growing demand for cash transactions in the domestic market. Economic experts caution, however, that printing additional money without parallel reforms could risk fueling further inflation. “Currency replacement can restore some public confidence in the banking system,” said one economist familiar with the region, “but unless accompanied by measures to strengthen production and trade, it may not resolve underlying financial pressures.” Despite these concerns, Syrian authorities view the move as a necessary step to keep the economy functioning. With the central bank targeting a three-month timeline, attention will now turn to which international suppliers will secure the contract and how the new notes might affect daily economic life.
Syria Seeks International Bids to Print New Currency Amid Pound’s Decline
