Iraqi Finance Minister Meets World Bank And IMF

(MENAFN- Iraq Business News) 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 sessions, seminars, and side consultations.

Minister Sami began her participation by attending a ministerial meeting chaired by IMF Managing Director Kristalina Georgieva. The discussions focused on strategies to maintain macroeconomic stability and manage debt sustainability, as well as sharing insights and experiences regarding economic reforms, strengthening institutions, climate change, and supporting environmentally friendly projects.

During the meetings, Minister Sami also participated in a session with IMF Executive Director Dr. Mahmoud Mohieldin, exploring the potential for Iraq to engage in special support programs to improve the country's financial sector performance and activate partnership areas with the fund.

In ongoing meetings, Minister Sami held a coordination meeting with Iraq's IMF mission chief, Jean-Guillaume Poulain, discussing prospects for Iraq's economic growth through the government's reform program aimed at boosting growth in both oil and non-oil sectors. The discussions also addressed improvements in key infrastructure projects such as the Al Faw Port, as well as projects in energy, agriculture, industry, transportation, and other areas of sustainable development.

In a related meeting, Minister Sami met with Jihad Azour, Director of the Middle East and Central Asia Department at the IMF. The discussion focused on a range of economic issues and key fiscal policy expectations. Iraq proposed a non-financial technical support program from the IMF to enhance the country's financial sector with specialized expertise. Azour emphasized the fund's commitment to supporting all financial, banking, and monetary reform programs adopted by the Iraqi government.

The annual meetings bring together central bank governors, finance and development ministers, private sector leaders, and representatives from civil organizations and academia to discuss globally significant issues such as the global economic outlook, poverty eradication, economic development, and aid effectiveness. The event features workshops, regional briefings, press conferences, and other activities focusing on the global economy, international development, and the global financial system.

(Source: Ministry of Finance)


Iraq Business News

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