Report: Foreign aid lost in Syria exchange rate distortions

By SARAH EL DEEB
Associated Press

BEIRUT (AP) — Exchange rate distortions in war-torn Syria have allowed the government of President Bashar Assad to benefit from at least $100 million of international aid to its coffers. That’s according to new research published this week by the Washington-based Center for Strategic and International Studies. The currency manipulation deprives a battered population mostly living in poverty of much needed funds. It also allows the Damascus government to circumvent sanctions it has faced for years from Western countries. A United Nations official says the U.N. acknowledged that exchange rate fluctuations have had an impact on some programs, particularly since 2019 when the Syrian currency took a nosedive.