Conclusion of Iraq's discussions with the International Monetary Fund expert mission in Amman amid diverse and sustainable economic optimism
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[rtl]Baghdad / NINA / The Iraqi delegation, headed by Finance Minister Taif Sami, concluded today its discussions with the Article IV mission of International Monetary Fund experts in Amman, during which the implementation of the economic reform program and the improvements achieved by the Iraqi government in the field of development infrastructure, financial sustainability and maximizing non-oil revenues were reviewed. .
The Iraqi delegation confirmed that the Fund promised to support development programs to advance public financial management, digital transformation, banking, retirement and customs sectors, and to enhance private sector participation efforts through investment incentives, infrastructure and reconstruction, indicating its intention to continue discussions and consultations during the Fund’s periodic annual meetings.
The Fund’s mission praised the achievement of good progress in many financial and monetary aspects and in the areas of transparency, control, provision of financial statements, and rationalization of expenditures, in addition to the strong return of growth in the non-oil sector during 2023, with a noticeable decline in inflation rates, and this is reflected in the decline in food and energy prices.
The mission pointed to the positive developments in the return of trade financing operations to their normal path and the stability of the foreign exchange market following the implementation of anti-money laundering and anti-terrorist financing controls on cross-border payments.
The mission also welcomed the government plans aimed at strengthening public financial management, including welcoming the steps taken by the government towards establishing a unified treasury account, improving cash liquidity management and increasing the tax base, as well as reviewing the customs tariff structure and achieving more targeting in social support and care.
In the same context, the mission expressed its optimism about the level of understanding and progress achieved with the Iraqi government, and the coordination steps and joint consultations that will be completed in the near term will contribute to addressing the financial problems imposed by the circumstances of international conflicts and their accompanying economic impacts.
It is noteworthy that Article Four consultations are bilateral meetings held annually between the International Monetary Fund and member states, after which a team of Fund experts meets the member country and conducts official consultations with its officials./End 7[/rtl]
The Iraqi delegation confirmed that the Fund promised to support development programs to advance public financial management, digital transformation, banking, retirement and customs sectors, and to enhance private sector participation efforts through investment incentives, infrastructure and reconstruction, indicating its intention to continue discussions and consultations during the Fund’s periodic annual meetings.
The Fund’s mission praised the achievement of good progress in many financial and monetary aspects and in the areas of transparency, control, provision of financial statements, and rationalization of expenditures, in addition to the strong return of growth in the non-oil sector during 2023, with a noticeable decline in inflation rates, and this is reflected in the decline in food and energy prices.
The mission pointed to the positive developments in the return of trade financing operations to their normal path and the stability of the foreign exchange market following the implementation of anti-money laundering and anti-terrorist financing controls on cross-border payments.
The mission also welcomed the government plans aimed at strengthening public financial management, including welcoming the steps taken by the government towards establishing a unified treasury account, improving cash liquidity management and increasing the tax base, as well as reviewing the customs tariff structure and achieving more targeting in social support and care.
In the same context, the mission expressed its optimism about the level of understanding and progress achieved with the Iraqi government, and the coordination steps and joint consultations that will be completed in the near term will contribute to addressing the financial problems imposed by the circumstances of international conflicts and their accompanying economic impacts.
It is noteworthy that Article Four consultations are bilateral meetings held annually between the International Monetary Fund and member states, after which a team of Fund experts meets the member country and conducts official consultations with its officials./End 7[/rtl]
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