The IMF says it is ready to help Syria meet its financial needs after a swift rebel military advance led to a toppling of the government of Bashar al-Assad earlier this month, a spokesperson for the Fund said Thursday, (December 19) in Washington, D.C.

“We are monitoring the situation in Syria closely. the Syrian people have suffered for far too long. We hope that the country can now begin to address its deep humanitarian and social and economic challenges, and to begin the rehabilitation of the Syrian economy,” said IMF spokesperson Julie Kozack.

Syria is a member of the IMF, but had not participated in regular surveillance or actively engaged with the Fund in over a decade.

“The Fund has not had any meaningful engagement with Syria since 2009, which was when the last Article Four consultation, took place. In terms of, the assessment right now, the situation on the ground, is indeed fluid. It’s too early to make an economic assessment,” said Kozack.

As in many situations where governments are toppled by insurgencies, the IMF will take its lead from the United Nations in determining who is the legitimate government of a country in turmoil. At this time, the Fund has not recognized any faction in Syria but will continue to prepare to help when a government will be established and recognized.

“We are closely monitoring the situation, and we stand ready to support the international community’s efforts to assist Syria’s reconstruction as needed, and when conditions allow,” said Kozack.

A copy of the full transcript is available at IMF.org.