Tishwash: Automation, economic reforms, and waste management top the agenda at Iraq’s meeting with the World Bank and the International Monetary Fund.
A high-level Iraqi delegation held talks with the World Bank and the International Monetary Fund in Washington, D.C., on automation, economic reforms, and waste management.
A statement from the Ministry of Finance received by ( IQ ) stated that “Minister of Finance Taif Sami Mohammed, Governor of the Central Bank Ali Al-Alaq, and the accompanying delegation participated in the annual spring meetings of the World Bank Group and the International Monetary Fund held in the US capital, Washington, to discuss global economic challenges, economic development, financial stability, and other related issues, in addition to plenary sessions, seminars, and side consultations .”
The statement added that “the Minister of Finance began her participation in the first meeting with the Executive Director of the World Bank, Abdulaziz Al-Mulla, where the economic situation in Iraq and the role of the World Bank in supporting Iraq in its reform programs were discussed, particularly in the areas of maximizing revenues, reducing expenditures, digitization, electronic systems, and infrastructure, energy, and environmental projects .”
He added, “The Minister also met with the Regional Vice President of the International Finance Corporation (IFC), Hela Sheikh Rouhou, and discussed with her the most important obstacles to investment in Iraq, ways to address them, and the most important projects that the corporation is supervising in Iraq in the transportation, energy, and international trade finance sectors . ” She explained that “the corporation can support projects of the Iraq Development Fund .”
The Foundation’s Deputy Chairman emphasized “supporting the private sector and its projects, and supporting the agricultural and industrial sectors in Iraq .”
The delegation, headed by the Minister of Finance, held a high-level meeting with the World Bank’s Vice President for the Middle East, Othman Dawani. The meeting discussed the portfolio of projects funded by the World Bank, particularly the railway project in Iraq. It was also agreed to review this portfolio to monitor the implementation of these projects, identify any obstacles to their implementation, and find solutions to implement and complete these projects within the specified timeframe .
The meeting, according to the statement, discussed “the government’s priorities for future projects, for which the World Bank can provide support, including renewable energy, waste management, and transportation projects, particularly the metro, airports, and railways. The minister also discussed with Al-Dawani the issue of human development in Iraq, which is a government priority to be included in the World Bank’s plans to allocate support and launch future projects in the education, health, employment, and social protection sectors .”
According to the statement, the Minister and the Governor of the Central Bank of Iraq attended “the ministerial meeting chaired by the Managing Director of the International Monetary Fund, Kristalina Gurevichi, and attended by the Ministers of Finance and Governors of the IMF countries. The discussions focused on the global economic situation, the increasing uncertainty and its economic impacts at the local and global levels, addressing the challenges and measures to be taken to enhance resilience, identifying strategies to maintain the macroeconomy, and managing debt sustainability.
The meeting also focused on exchanging visions and experiences regarding economic reforms, enhancing the performance of government institutions, supporting and strengthening the private sector, and opening them up to be at the forefront of sustaining the economic resilience of the countries of the region .”
For her part, Kristalina explained the Fund’s humanitarian support for conflict-affected countries, and that the Fund is committed to supporting the people of Gaza, Yemen, Syria, and Sudan. She emphasized the need for countries to implement medium-term reforms, build economic buffers, and diversify their economies to strengthen their foundations for financial sustainability and macro-stability .
The Iraqi delegation’s agenda included “participation in a meeting with International Monetary Fund Managing Director Mohamed Maait, during which the spotlight was placed on specific reforms aimed at improving the performance of Iraq’s financial sector, and the exchange of updates between the two sides on activating areas of partnership with the Fund .”
During the ongoing meetings, Finance Minister Taif Sami held a coordination meeting with the head of the International Monetary Fund’s mission to Iraq, Jean-Claude. The meeting addressed discussions on the prospects for Iraqi economic growth through the government’s reform program aimed at strengthening the oil and non-oil sectors, and how to maintain economic stability in Iraq in light of the global economic conditions .
The Minister, along with the Director of Technical and Financial Affairs and her technical team at the International Monetary Fund, responsible for providing technical support and expertise to the Ministry of Finance, discussed “the steps taken to provide technical support to the General Tax Authority and the General Customs Authority regarding the automation of their electronic systems and reviewing amendments to their laws. The latter expressed its readiness to provide technical support and training on these systems for customs and tax employees .”
The meeting also discussed “completing the requirements for the unified treasury account, reviewing the procedures implemented by the Ministry of Finance regarding this program, and proposing the provision of technical support for retirement and social security. A report on reform proposals for this sector will be submitted to the Iraqi government .”
The delegation discussed a range of economic issues and key financial policy forecasts during a meeting with Jihad Azour, Director of the IMF’s Middle East and Asia Department .
For his part, the regional representative stressed “the Fund’s commitment to supporting all financial, banking, and monetary reform programs adopted by the Iraqi government .”
It is worth noting that these annual meetings bring together central bank governors, ministers of finance and development, private sector executives, representatives of civil society organizations, and academics to discuss issues of global importance, including the global economic outlook, poverty eradication, economic development, and aid effectiveness .
The event features workshops, regional briefings, press conferences, and other events focusing on the global economy, international development, and the global financial system . link
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Tishwash: Fuad Hussein holds meetings with US officials in Washington.
US State Department spokeswoman Tammy Bruce announced that Iraqi Foreign Minister Fuad Hussein will hold meetings with US officials in Washington, D.C., on Friday.
Bruce added, during a press conference, that Fuad Hussein will be at the Foreign Ministry on Friday to “hold several meetings,” noting that she will participate in one of them.
She noted that she had “no details to provide” about those meetings, but explained that the ministry would issue “media summaries, and there will be some information about those meetings.”
The Iraqi Foreign Minister announced, in a post on the X platform, his departure for the United States to hold “a series of bilateral meetings to strengthen Iraqi-American relations and coordinate efforts on regional and international issues.”
The meetings will also discuss “ways to enhance common security and cooperation in various fields.”
A US congressional delegation visited Baghdad in mid-April, and during their meeting with Prime Minister Mohammed Shia al-Sudani, they emphasized “the importance of the relationship with Iraq as a key partner in the Middle East.”
In its meeting with Parliament Speaker Mahmoud al-Mashhadani, the delegation reiterated its country’s “commitment” to continuing to support Iraq and strengthening the strategic partnership between the two sides.
It also emphasized the US Congress’s “keenness” to maintain effective communication with Iraqi leaders to work together for a better future for both countries. link
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Tishwash: The Prime Minister’s Financial Advisor talks about gold demand and prices.
The Prime Minister’s financial advisor, Mazhar Mohammed Salih, explained the reasons for the increased demand for gold in Iraq, as well as its impact on global prices.
Saleh stated that “local gold is one of the wealth havens most affected by external or international factors and shocks, as it is a commodity imported from gold vaults abroad. The global price of gold exceeded the $3,200 per ounce barrier in April 2025, affected by geopolitical tensions, especially between the United States and China, or the so-called trade war issue represented by the escalation of the mutual tariff war between various countries of the world and its direct and indirect effects on inflation trends and expectations in the global economy.”
He pointed out that “this coincided with indicators of the oil asset cycle, the downward trend in global oil prices, as well as the increasing demand for the yellow metal by central banks and investors seeking a safe haven for wealth around the world, as gold is undoubtedly the best store of value.” He explained that “the price of gold, which has witnessed a significant and continuous rise, despite its fluctuations towards the decline, has maintained its high price. For example, the price of one ounce on April 17, 2025, reached approximately $3,321.89, after previously reaching a new record high of $3,357.40 per ounce.”
Saleh said, “The opening of the local gold market to the global market and the impact of global gold prices on our country’s supply has become an immediate reflexive issue. Until the local gold market stabilizes again, it may take a long time to adapt again.” He pointed out that “the short-term jumps in gold prices cast a shadow over the tendencies of individuals in our country and the behavior of some to hedge their investments in the yellow metal.”
He pointed out that “the demand for gold in Iraq is a traditional means of preserving value, which leads to its purchase as a normal hedge, especially for those with cash surpluses, with the aim of profiting from the external price factors affecting the fluctuations in the international economy, and the impact of this on the level of global prices, and the repercussions of this on thinking about re-diversifying the wealth portfolios of some of them, or according to their beliefs and traditions in investing, preserving the value of their personal financial wealth, or speculating.”
He explained that “if the goal of importing is a safe investment, it is preferable to monitor global and local markets to make informed decisions, and to properly diversify their investment portfolios and not rely entirely on a single investment vehicle to preserve value, as gold is also subject to decline.
It is also preferable to consider other national investment options to diversify their investment portfolios, especially investing in interest-bearing sovereign government bonds currently offered to investors through the Iraqi banking system.” link
