At the Khasb Conference, I highlighted a few points:
– Since the cost of policy interventions is generally higher in functioning and actively growing economies, Syria’s devastation opens a rare window for fundamental reforms.
– Liberalizing the exchange rate is essential, but it can always be allowed to fluctuate within a margin.
– The Central Bank must be shielded from political interference if it is to fulfill its core mandate: stabilizing prices.
– Attracting foreign investment shouldn’t come at the expense of the poor. Priority must go to building a lawful, predictable environment that benefits everyone—not relying on trickle-down assumptions that investment alone will lift all boats.
Let’s not waste it!