Minister Sami advances Iraq’s Vision 2050 at World Bank meeting

Baghdad / Washington, D.C. — October 18, 2025
Iraq’s Minister of Finance, Taif Sami Mohammed, and the Deputy Governor of the Central Bank of Iraq (CBI) have concluded a series of high-level meetings at the World Bank and International Monetary Fund (IMF) annual gatherings in Washington, D.C., securing both technical and financial support for Iraq’s long-term economic reform program.

The discussions centered on advancing Iraq’s Vision 2050, a comprehensive strategy to reduce reliance on oil, diversify the economy, and strengthen private sector participation.

Strategic Agreements with the World Bank

Minister Sami held several meetings with senior World Bank officials, including CEO Abdulaziz Al-Mulla and Vice President for the Middle East Ousmane Dione, focusing on project acceleration, future investments, and funding commitments.

Key outcomes included:

• Project Portfolio Review:
  Both sides agreed to review and fast-track ongoing World Bank-funded projects, notably the Iraq Railway Project, as part of a broader infrastructure revitalization plan.
• Future Development Priorities:
  The Iraqi delegation outlined priority projects for the World Bank’s 2026 budget, focusing on transport, railways, airports, energy, and wastewater treatment.
• Financial Allocations:
  Minister Sami requested budgetary allocations for 2026 to cover outstanding dues on completed domestic projects that remain unpaid due to the 2025 fiscal deficit.
• Private Sector and Investment Support:
  In talks with Ricardo, World Bank Vice President for Private Sector Affairs, discussions centered on expanding International Finance Corporation (IFC) investments, including:
  • Rehabilitation of Baghdad International Airport
  • Support for the Basra Gas Project
  • Financing for international trade and private enterprise development

IMF Commits to Digital and Fiscal Reform

At the IMF ministerial meeting chaired by Managing Director Kristalina Georgieva, Minister Sami presented Iraq’s “Vision 2050”—a framework to modernize fiscal management and digital governance.

The IMF pledged to support Iraq in several critical areas:

• Automation and Modernization:
  Providing technical assistance to digitize operations within the General Tax Authority and General Customs Authority.
• Treasury and Pension Reform:
  Offering expertise to review the Unified Treasury Account procedures and deliver reform proposals for the retirement and social security systems.
• Economic Resilience:
  Discussions highlighted the global need for medium-term fiscal reforms, diversified revenue streams, and stronger financial buffers amid ongoing global uncertainty.