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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Iraq’s Finance Minister Engages in Key IMF and World Bank Meetings — Focus on Reform, Growth, and Global Partnerships
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 meetings brought together finance ministers, central bank governors, private sector leaders, and international institutions to discuss global economic challenges, financial stability, and sustainable development.
Strengthening Iraq’s Reform Agenda
During the conference, Minister Taif Sami met with World Bank Executive Director Abdulaziz Al-Mulla to review Iraq’s economic reform progress.
Discussions focused on increasing non-oil revenues, tightening expenditure control, enhancing digital services, and advancing infrastructure and energy projects.
The Minister reaffirmed Iraq’s commitment to reform and transparency, stressing the government’s focus on modernising financial systems and building a sustainable, investment-driven economy.
Private Sector Expansion and IFC Cooperation
Minister Sami also held talks with Ricardo, the World Bank’s Vice President for Private Sector Affairs, to discuss ongoing and planned International Finance Corporation (IFC) projects in Iraq.
Key areas of cooperation include:
- Modernising Baghdad International Airport,
- Expanding gas processing in partnership with Basra Gas Company, and
- Supporting international trade finance to boost private sector growth.
Both sides explored ways to attract global investors, address market barriers, and promote investment in agriculture and industry, positioning Iraq as a hub for private enterprise in the region.
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 development portfolio.
Talks covered railway and highway upgrades, as well as new infrastructure and human capital initiatives planned for 2026.
Both sides agreed to align Iraq’s development priorities with the World Bank’s 2026 support strategy and work together to resolve payment delays linked to the 2025 budget shortfall.
Vision 2050: A Path Toward Economic Diversification
In a session chaired by IMF Managing Director Kristalina Georgieva, Minister Taif Sami presented Iraq’s Vision 2050 — a long-term strategy to diversify the economy and reduce dependence on oil revenues.
The plan includes:
- Reforming the tax and customs systems,
- Encouraging private sector participation,
- Digitising government services, and
- Fostering innovation-driven growth.
Minister Sami highlighted Iraq’s goal of creating a balanced, modern, and resilient economy, with stronger social protection and sustainable development at its core.
Partnership with the IMF
The delegation also met with Jihad Azour, the IMF’s Director for the Middle East and Central Asia Department, to assess progress on joint reform programs.
Discussions covered Iraq’s work on:
- Improving fiscal discipline,
- Unifying the national treasury account,
- Enhancing tax and customs management, and
- Modernising the social security framework.
Azour reaffirmed the IMF’s commitment to supporting Iraq’s financial and monetary reforms, noting the country’s steady progress in stabilising its economy and improving fiscal management.
A Stronger Global Role for Iraq
These annual IMF–World Bank meetings serve as a platform for nations to collaborate on issues of growth, poverty reduction, and sustainable finance.
Iraq’s active participation this year reflects its growing engagement with international financial institutions, as the country works to diversify its economy, attract foreign investment, and strengthen global partnerships.
