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On Sunday, the Governor of the Central Bank of Iraq, Ali Al-Alaq, discussed with the head of the International Monetary Fund, Kristalina Georgieva, the development of a technical program with the Fund that takes into account the country's security and economic conditions, especially the exceptional challenges that cost it exorbitant prices at various levels, according to a statement issued by Al-Alaq's office.
The statement stated that Kristalina expressed understanding of the situation in Iraq and the circumstances it went through, and supported the governor's proposal of the need for a program with the Fund to serve as a proven reference for economic policies between the two parties.
Later, the governor met with the Executive Director of the International Monetary Fund, Mahmoud Mohieldin, and the two sides discussed issues of financial stability in Iraq.
And Mohieldin expressed "the Fund's interest in providing the necessary support to Iraq in economic reform issues in order to achieve a gradual increase in its non-oil imports."
The two parties discussed "the need to sign an agreement between Iraq and the Fund whose framework and content will be determined during the visit of the International Monetary Fund team delegation to Baghdad."
The visit, which is scheduled to take place next month, aims to organize the economic reform steps, financial performance programs, and aspects in which Iraq requires technical and advisory support.
It is noteworthy that the Fund's experts stressed to the Iraqi delegation the importance of Iraq embarking on economic reforms in times of financial abundance, as oil revenues provide the possibility of support and flexibility for this program, especially those related to supporting the poorest segments and building financial buffers to counter fluctuations in global oil prices.
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