MOF holds meetings with senior officials from IMF 

Baghdad-INA 

Finance Minister Taif Sami held a series of meetings with a number of international financial and monetary institutions, on the sidelines of the spring meetings of the International Monetary Fund and the World Bank, held in Washington, D.C. from 10-16 April . 

The Ministry of Finance said, in a statement received by the Iraqi News Agency (INA), that "The Minister of Finance, Taif Sami, held a meeting with the Executive Director of the World Bank, Mansour Al-Shamali, in the presence of the Governor of the Central Bank, Ali Al-Alaq, and his accompanying delegation, and with the participation of the Director-General of the Public Debt Department and the Director-General of the Iraqi Fund for External Development." Indicating that "the meeting witnessed discussion of the economic and financial vision that the Iraqi government is working to achieve in accordance with the priorities of sustainable development, projects, water, climate, environment, transportation and social protection, in addition to strengthening the capabilities of the banking sector, applying automation, supporting small projects, advancing the reality of the private sector, and establishing development funds." 

"The Minister of Finance indicated that the Iraqi government is continuing its national and economic reform efforts, adopting for this purpose a road map to achieve the goals of sustainable development and the gradual approach to financing development by maximizing revenues for the budget," noting that "the representative of the World Bank expressed the bank's willingness to contribute to supporting the path of The government's reform program by providing technical assistance and the participation of experts and consultants to work with Iraq. 

She also continued, "The Iraqi delegation met with the representative of the International Monetary Fund, Jihad Azour, and the director of the Fund's Department for the Middle East, Tawkhir. Criticism to contribute to strengthening the requirements of comprehensive development and reform of the Iraqi economy  . 

Sami stated that "representatives of the fund expressed the provision of all forms of support necessary for the success of the tasks of the government program in terms of capacity-building, training of working cadres and technical contributions in a manner appropriate to the establishment of productive sectors that contribute to raising the rates of gross domestic product." 

Sami also explained that "the Iraqi delegation met with experts and advisors of the World Bank and discussed the  IFMIS project , and discussed the stages taken by the Ministry of Finance regarding the implementation of the  IFMIS  public financial management modernization project , the methods of financing the project and the World Bank's contribution to the project's sustainability in a way that ensures the completion of its work stages and the expansion of its coverage of all units." spending  ." 

And she indicated that "the Iraqi delegation met with the regional representative of the World Bank, Farid Belhaj, and the team to enhance efforts to support economic development and investment projects. To bring about an economic balance and correct the course of financial policy in Iraq  . 

The ministry pointed out that "Mr. Belhaj expressed the World Bank's readiness to continue serious and fruitful cooperation with the Iraqi government, in everything related to financing development projects and fundamental reforms to the structure of the Iraqi economy." 

The ministry added, "The Iraqi delegation met with the International Finance Corporation   (IFC) , and they reviewed the strategy of the International Finance Corporation in the Middle East and North Africa region, and the institution's programs that can be adopted in Iraq, as well as discussing partnership with them to rehabilitate Baghdad International Airport, in addition to seeing how the institution works." With private sector companies and support for investments. 

And the Minister of Finance stated that "Iraq is on the verge of enacting the federal budget, in which for the first time funds for development and treatment of poverty will be established," noting that "Iraq seeks to benefit from the expertise of the Finance Corporation in supporting these funds, as well as including in the budget sovereign guarantees to stimulate the private sector towards industrial projects." specifically agricultural. 

The Minister of Finance discussed with the Deputy Director of the Financial Affairs Department at the International Monetary Fund and a number of experts and advisors in the Fund, the technical assistance provided to the Ministry of Finance, including the unified treasury account, as the meeting touched on a number of issues related to developments in the economic and financial conditions in Iraq, and ways to face challenges and overcome them. Achieving and improving economic stability, in addition to the axes of the general budget, resources, revenues and expenditures, and the needs for technical support and capacity building for the Tax and Customs Authority  . 

In a meeting with the Deputy and Director of Risk Management and Legal Affairs at the International Investment Guarantee Agency (  MIGA ), they discussed the practical mechanisms through which the agency's services can be promoted to local and foreign investors in Iraq, because these services have a role in encouraging and attracting investments as they give guarantees and insurances that increase the confidence of investors.  .