Iraq Participates in World Bank and IMF Annual Meetings — Focus on Reform, Investment, and Economic Diversification
Washington, D.C. — October 18, 2025
Iraq’s Minister of Finance, Taif Sami Mohammed, led a senior delegation — including the Deputy Governor of the Central Bank of Iraq (CBI) — to the annual meetings of the World Bank Group and the International Monetary Fund (IMF), held in Washington from October 13 to 18, 2025.
The high-level meetings brought together global policymakers, finance ministers, and central bank governors to discuss economic challenges, global financial stability, and sustainable development.
World Bank Engagements
During the event, Minister Taif Sami met with World Bank Executive Director Abdulaziz Al-Mulla to review Iraq’s ongoing reform agenda.
The talks focused on strengthening revenue systems, controlling expenditures, advancing digital transformation, and expanding infrastructure and energy investments.
The Minister reaffirmed Iraq’s commitment to fiscal discipline and sustainable growth, while welcoming continued technical and financial support from the World Bank.
Private Sector and IFC Cooperation
Minister Sami also held discussions with Ricardo, the World Bank Vice President for Private Sector Affairs, regarding International Finance Corporation (IFC) operations in Iraq.
Key topics included:
- Modernisation of Baghdad International Airport,
- Gas processing collaboration with Basra Gas Company, and
- Expanding international trade finance to boost private investment.
Both sides discussed ways to remove barriers to foreign investment and enhance private sector participation, especially in agriculture, industry, and energy.
Regional Development and Infrastructure Projects
The Iraqi delegation also met with Ousmane Dione, the World Bank Vice President for the Middle East and North Africa, to review Iraq’s ongoing and upcoming projects.
Their discussions covered major railway and highway initiatives, as well as human capital development programs aligned with Iraq’s national strategy.
Both parties agreed to coordinate Iraq’s economic priorities with the World Bank’s 2026 support framework, while addressing funding delays linked to the 2025 budget shortfall.
Iraq’s Vision 2050: Diversification and Modernisation
In a special session chaired by IMF Managing Director Kristalina Georgieva, Minister Taif Sami presented “Iraq’s Vision 2050” — a long-term roadmap aimed at:
- Diversifying the national economy and reducing reliance on oil revenues,
- Reforming tax and customs systems,
- Promoting private sector-led growth, and
- Accelerating digital transformation in public services.
She highlighted Iraq’s determination to build a resilient, knowledge-based economy, supported by global partnerships and strong fiscal management.
Cooperation with the IMF
Minister Sami also met with Jihad Azour, Director of the IMF’s Middle East and Central Asia Department, to discuss Iraq’s ongoing collaboration with the Fund.
The two sides reviewed progress on:
- Improving fiscal transparency,
- Unifying Iraq’s treasury account,
- Enhancing tax and customs administration, and
- Strengthening the social security framework.
Azour reaffirmed the IMF’s commitment to supporting Iraq’s monetary and financial reform programs, acknowledging the progress made in stabilising public finances and advancing structural reforms.
A Platform for Global Cooperation
The IMF–World Bank Annual Meetings serve as a platform for finance ministers, central bank governors, private sector leaders, and civil society representatives to discuss key global economic priorities — including growth, poverty reduction, and sustainable development.
Iraq’s active participation this year underscores its increasing engagement with international financial institutions, as the country continues to pursue economic diversification, improved governance, and long-term development partnerships.
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