Iraq pushes financial reforms with IMF in Jordan

Shafaq News/ Iraqi Finance Minister Taif Sami held talks with the International Monetary Fund (IMF) on financial and banking reforms aimed at bolstering the country’s economy, the Iraqi Ministry of Finance revealed on Wednesday.

According to the Ministry’s statement, the talks, part of periodic meetings in the Jordanian capital, focused on Iraq’s 2024 budget implementation, controlling expenditures, and optimizing financial resource allocation. The discussions also addressed reducing reliance on oil revenues by strengthening tax systems and adopting a unified accounting framework.

Banking reforms were a key topic, with an emphasis on modernizing financial infrastructure to align with global trends. Projections for 2025 and strategies for revenue diversification were also reviewed.

Sami reaffirmed Iraq’s commitment to financial stability and structural reforms, underscoring the role of international coordination in shaping effective financial policies. “Cooperation with the IMF remains pivotal in addressing economic challenges and advancing financial strategies,” she asserted.