Syria's Vault: Gold Amidst the Ruins

Despite Syria's prolonged civil war and economic turmoil, the central bank retains 26 tons of gold. However, foreign currency reserves have dwindled substantially due to regime expenditures. With renewed regime change, the stability and future of Syria’s financial reserves are under scrutiny as sanctions persist.

In the aftermath of Syria's civil conflict, the central bank holds 26 tons of gold, the same amount it held in 2011. This figure emerged even after the downfall of Bashar al-Assad, indicating turbulent economic times in the nation.

Despite this gold reserve stability, Syria's foreign currency reserves have significantly dwindled—dropping from $14 billion in 2011 to just hundreds of millions of dollars today. The regime's growing reliance on these funds to finance Assad's war effort has exacerbated this decline.

As Assad's regime collapsed, control of Syria's central bank shifted to the new government. Yet, as financial transparency remains minimal, the country faces ongoing pressures from Western sanctions that inhibit economic recovery.

(With inputs from agencies.)