By John Lee. Iraqi Finance Minister Taif Sami met with World Bank Executive Director for Iraq, Abdulaziz Al Mulla, to discuss the World Bank's support for Iraq, including financial aid, technical support, and capacity building. Al Mulla emphasized the bank's commitment to supporting member countries and that Iraq would benefit from the World Bank's programs […]
By John Lee. Iraqi Finance Minister Taif Sami, along with her accompanying delegation, participated in the annual Spring Meetings of the World Bank Group and the International Monetary Fund (IMF), held from April 15 to 20, 2024, in Washington, D.C. The meetings addressed global economic challenges, economic development, financial stability, and related issues through general […]
By John Lee. Prime Minister Mohammed Shia al-Sudani received Mr. Jamie Dimon, the CEO of JPMorgan Chase, and his accompanying delegation on Wednesday, during his visit to the Washington DC. During the meeting, they discussed the government's efforts in implementing financial and banking reforms, aiming to revitalize the economic situation and achieve development. They also […]
By John Lee. An International Monetary Fund (IMF) mission met with the Iraqi authorities in Amman during February 20-29 to conduct the 2024 Article IV consultation. Some key data from their report: Economic Growth: Non-oil GDP growth: 6% in 2023. Overall growth projected to rebound in 2024. Inflation: Declined from 7.5% in January 2023 to […]
By John Lee. An Iraqi delegation, led by Finance Minister Taif Sami Mohammed, held discussions with IMF experts during the fourth Article IV consultations, held in Amman, Jordan, from February 27 to 29. Discussions centered on Iraq's reform program, focusing on fiscal and banking policies, digital infrastructure, financial inclusion, public debt issues, and measures to […]
By John Lee. A team from the International Monetary Fund (IMF) has concluded a visit with Iraqi officials, concluding: Economic activity is recovering, although oil production cuts are weighing on overall growth, and at the same time inflation has declined. The large fiscal expansion in the three-year budget law poses significant risks to fiscal and […]
By John Lee. The International Monetary Fund (IMF) has forecast growth in Iraq's real non-oil GDP 3.7 percent in 2023. Following a recent visit to Iraq, the IMF team also predicts inflation of 5.6 percent in for the year. Full statement from IMF: A staff team of the International Monetary Fund (IMF) led by Tokhir […]
Prime Minister Mr. Mohammed S. Al-Sudani, met on Thursday with the International Monetary Fund (IMF) Resident Representative, Mr. Gazi Shbaikat. During the meeting, they discussed Iraq's relationship with the IMF and the cooperation in supporting financial policies and plans to achieve stability in the Iraqi economy. They highlighted the importance of the financial and administrative […]
Iraq: Staff Concluding Statement of the 2022 Article IV Consultation Mission: A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or 'mission'), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF's Articles […]
By John Lee. A high-level delegation from the Central Bank of Iraq (CBI), headed by the Deputy Governor, Dr. Ammar Hamad Khalaf, participated in the annual meetings held by the International Monetary Fund (IMF) and the World Bank in Washington, DC. During the meetings they parties discussed cooperation with Iraq, and to provide the necessary […]
By John Lee. According to the recently-published World Economic Outlook from the International Monetary Fund (IMF), Iraq's economy is forecast to grow by 9.3 percent this year, giving it the fastest real GDP growth of all the Middle East and Central Asia countries. The forecast is slightly down from the 9.5 percent projected in the […]
The economy is recovering well amid high oil prices, with real GDP projected to reach its pre-pandemic level this year. Cushioning the impact of surging food prices on the most vulnerable is the most urgent priority. Using the current favorable oil market conditions to accelerate structural reforms and advance socio-economic priorities will be key to […]
