Economic expert Ziad Al-Hashemi said on Thursday, November 12, 2026, that Iraq’s Ministry of Finance has made progress in talks with the World Bank as the government seeks urgent loans to support the country’s economy.
According to Al-Hashemi, the World Bank has set several conditions for providing financial support, including a three-year economic reform program that would run from 2027 to 2029.
He explained that the discussions have moved beyond general financial problems and are now focused on creating a medium-term reform plan. The World Bank has identified four main areas that need attention: improving public financial management, reforming private and government banks, fighting money laundering and terrorist financing, and improving the energy sector while tackling corruption.
However, Al-Hashemi pointed out that Iraq’s Ministry of Finance has not yet announced how much money it wants to borrow or explained the specific conditions attached to the loans. The government has also not revealed how the money would be spent.
He also questioned whether the Iraqi government would actually carry out the proposed reforms. Al-Hashemi argued that these changes could affect the financial privileges enjoyed by members of the political class, making it difficult to move forward with the reform program while the current system remains in place.