Iraq, IMF advance talks on three-year reform plan

Shafaq News- Amman

Iraq and the International Monetary Fund (IMF) have made progress in negotiations over a three-year economic reform program covering 2027–2029, following the conclusion of talks in Jordan's capital, Amman, on Wednesday, the Iraqi Finance Ministry announced.

Finance Minister Faleh Sari said the discussions focused on developing a medium-term reform framework to strengthen fiscal sustainability and help Iraq's economy withstand future challenges.

The talks also covered reforms to state-owned and private banks, stronger measures against money laundering and terrorist financing, electricity sector reform, improved governance and anti-corruption efforts.

Sari said negotiations would continue at the expert level, with both sides working toward a joint document outlining the financial reforms and a timetable for implementing them over three years.

On October 29, the IMF announced that it was preparing a new lending program for Iraq after beginning discussions with authorities in Baghdad, as the country's economy faced mounting pressure from the war on Iran. Earlier the same month, IMF Managing Director Kristalina Georgieva pledged strong support for Iraq through a requested lending program.

Iraq's previous IMF program ended in 2019. No financing amount, loan terms or final conditions have been announced for the proposed new arrangement.