Prime Minister: The International Monetary Fund Is A Key Partner In Strengthening Iraq’s Economy And Stabilizing It
Economy | 08:46 – 12/05/2025 Mawazine News – Baghdad – Prime Minister Mohammed Shia Al-Sudani received on Monday the Head of the International Monetary Fund (IMF) Mission to Iraq, Jean-Guillaume Poulin, and the Fund’s Resident Representative in Iraq, Mohammed Jaber.
According to a statement from his media office received by Mawazine News, Al-Sudani praised the IMF’s efforts in supporting Iraq and its financial and monetary institutions, thus restoring their vital role at the local and international levels, especially since the Fund is a key partner in Iraq’s efforts to reform the economy and enhance its stability.
He stressed that the government’s achievements in the financial, banking and economic fields represent positive steps towards achieving stability and sustainable development in the country.
He pointed out the importance of continued support from international partners for the government in intensifying efforts to mitigate the impact of the challenges facing the region, thus facilitating the implementation of steps aimed at diversifying and sustaining the economy, through the investment environment it has provided that has attracted major development projects.
For his part, Polan praised the “significant progress made by the Iraqi government in economic reform, through the development of the tax and customs systems.”
He expressed the IMF’s readiness to increase coordination and joint action, and to provide the necessary advice on enhancing non-oil revenues. https://www.mawazin.net/Details.aspx?jimare=261358
Rafidain Bank: The “Riyada” Initiative Is A Development Tool For Transforming The Iraqi Economy.
A wish | 09:25 – 12/05/2025 Mawazine News – Baghdad – Rafidain Bank confirmed on Monday that the Riyada initiative represented a development tool for changing the structure of the Iraqi economy and transformed young people from job seekers to opportunity creators.
While noting that the first phase of the initiative financed more than 8,000 small projects, he noted that the second phase will finance more than 10,000 new projects.
Rafidain Bank Director Ali Karim Al-Fatlawi said in a statement to the official agency, followed by Mawazine News, that “the Riyada initiative launched by the bank represents a qualitative shift in the role of banking institutions,” indicating that “it is no longer limited to providing financing, but has become a development tool for changing the structure of the Iraqi economy and empowering youth.”
He added, “The initiative is not merely financing small projects, but rather a new economic future written by the youth of Iraq,” noting that “the state is no longer the largest employer alone, but has become an enabler and motivator of the private sector, especially graduates and entrepreneurs.”
He continued, “The first phase of the initiative resulted in financing more than 8,000 small projects, each of which provided between two and five direct job opportunities, reflecting a real shift in the role of youth from job seekers to opportunity creators.
” He noted that “the bank has allocated sufficient resources for the second phase and is preparing to finance more than 10,000 new projects in cooperation with relevant authorities.”
He stated that “Rafidain Bank is today adopting an integrated development role, not just a traditional banking role,” explaining that “financing has become a means to build small production units that support the market and break the cycle of unemployment.”
He pointed out that “the most prominent challenges facing the implementation of the initiative are the need for institutional integration,” calling on the Central Bank and all national institutions to “actively engage in supporting the Riyada initiative by allocating concessionary financing windows, launching a national fund to guarantee loans for entrepreneurs, and integrating the initiative into the upcoming financial inclusion strategy.” https://www.mawazin.net/Details.aspx?jimare=261361
A Delegation Of 46 Iraqi Businessmen Participates In The US Investment Summit To Enhance Economic Cooperation
The US Embassy in Baghdad announced on Sunday that a delegation of 46 business leaders from across Iraq, including the Kurdistan Region, will travel to the United States to participate in the annual SelectUSA Investment Summit, scheduled to be held in Washington, D.C., from May 11 to 14.
The embassy explained in a statement that the delegation represents a wide range of economic sectors, including technology, cybersecurity, tourism, hospitality, food and beverage, franchises, agriculture, construction, investment, pharmaceuticals, real estate, and oil and gas, reflecting the diversity of cooperation and investment opportunities between the two countries.
The SelectUSA Summit, organized by the US Department of Commerce, is the largest event dedicated to promoting foreign direct investment in the United States, bringing together international investors with representatives of state and local governments, along with government officials, with the goal of facilitating investment entry into the US market.
The embassy explained that this participation is part of a series of important economic visits that have strengthened bilateral relations, noting the visit of a delegation from the US International Development Finance Corporation to Baghdad in May, in addition to the participation of more than 100 businessmen and companies from the American-Iraqi Chamber of Commerce in a business forum held in Baghdad last April.
The embassy emphasized that these efforts aim to support Iraqi businessmen in exploring growth and investment opportunities within the United States and strengthening the economic partnership between the two countries. https://www.radionawa.com/all-detail.aspx?jimare=41825
While Chairing The Economic And Social Council Meeting, Iraq Calls For The Formation Of An Arab Economic Bloc
Monday, May 12, 2025 3:35 PM | Economic Number of reads: 255 Baghdad / NINA / Iraq called, during the meeting of the Economic and Social Council, for the formation of an Arab economic bloc.
Director General of the Department of Foreign Economic Relations at the Ministry of Trade, and member of the presidency of the current session of the Arab Development Summit, Riyadh Fakher Al-Hashemi, said in a speech during the meeting of the Economic and Social Council at the level of senior officials, according to the official agency:
“Our meeting is not just an entitlement, but rather a sincere Arab platform to translate aspirations into action, and to address development challenges through constructive dialogue, genuine cooperation, and common will.”
Al-Hashemi added: “Our Arab reality today requires us to take a serious stance and clear positions in order to chart applicable development paths capable of creating job opportunities and achieving social justice. Today, we are called upon to go beyond traditional frameworks and move towards strategic projects that move towards a truly integrated economy, effective social cooperation, and joint investment.”
He continued: “The Arab economic bloc is not only important, but it is a historic entitlement, if we invest in the available elements of human and natural resources, as we are working today to formulate an agenda rich in issues, which represents a priority in the Arab development process, and lays the foundation for qualitative outcomes.” /https://ninanews.com/Website/News/Details?key=1226423
The Dollar Rises Again By 144,000 Against The Iraqi Dinar.
Economy | 10:38 – 12/05/2025 Mawazine News – Baghdad Mawazine News publishes today, Monday, the exchange rates of the dollar against the Iraqi dinar in local markets. – Selling 143,750 dinars for $100. Purchase 141,750 dinars for $100. https://www.mawazin.net/Details.aspx?jimare=261303
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