Finance Minister Taif Sami discussed with the International Monetary Fund Iraq’s proposal to provide a technical support program from the International Monetary Fund to provide its financial sector with expertise.
A statement from the Media Office of the Ministry of Finance stated: ‘Minister Taif Sami and her accompanying delegation participated in the annual spring meetings of the Bank Group and the International Monetary Fund, held for the period between April 15 and 20 in Washington, to discuss global economic challenges, economic development, financial stability, and other related issues, in addition to plenary sessions, seminars and side consultations.
The Minister began her participation in the ministerial meeting chaired by the Director General of the International Monetary Fund, Kristalina Gore Gueva, and in the presence of finance ministers and state governors at the International Monetary Fund, whose discussions focused on identifying strategies for preserving the macroeconomy and managing debt su
stainability, in addition to focusing on exchanging visions and experiences, with regard to economic reforms, enhancing the performance of institutions, climate change, and supporting environmentally friendly projects.
It also called on the members of the Fund to support the people of Gaza and stand by them, and the need was raised for countries to implement reforms in order to strengthen their fundamentals, including by strengthening institutions. In addition to this, countries can seize potential economic opportunities in light of shifting trade patterns, by reducing trade barriers imposed for a long time, diversifying products and markets, and improving infrastructure.
The Iraqi delegation’s agenda also included participation in the meeting held with the Executive Director of the International Monetary Fund, Mahmoud Mohieldin, during which the possibility of enhancing Iraq’s entry into special support programs to improve the performance of the financial sector in Iraq was highlighted, and sharing updates
between the two sides by activating areas of partnership with the Fund. .
During the current meetings, Minister of Finance, Taif Sami, held a coordination meeting with the head of the International Monetary Fund mission in Iraq, Jean Keum, and the meeting covered discussions about the growth prospects of the Iraqi economy through the government reform program aimed at enhancing the growth of the oil and non-oil sectors, in addition to efforts to improve main infrastructure, such as Al-Faw port project, energy, agriculture, industry, transportation projects, and other projects with sustainable development dimensions.
In a related context, the Minister of Finance held a meeting with Jihad Azour, Director of the Fund’s Middle East and Asia Department, and the meeting discussed a group of economic issues and the most prominent financial policy expectations, most notably Iraq’s proposal to provide a technical support program (non-financial) from the Fund, through which the financial sector can be provided. Iraq
has expertise and specialists in the same field.
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.
These annual meetings bring together central bank Governors, Finance and Development Ministers, private sector managers, representatives of civic organizations and academics, to discuss issues of global importance, including visioning, regional briefings, press conferences and other events focused on the global economy, international development and the global financial system.
Source: National Iraqi News Agency