Bangkok:Baghdad Finance Minister Falih Sari announced Iraq’s dedication to financial reforms and enhancing the private sector’s role, with the International Monetary Fund (IMF) acknowledging the Iraqi government’s efforts in pursuing economic and financial reforms.

According to Iraqi News Agency, a statement from the Ministry of Finance highlighted that Minister Sari participated in the annual meetings of the IMF and the World Bank Group in Bangkok, Thailand. These meetings aimed to bolster cooperation with international financial institutions and support Iraq’s reform agenda.

During the meetings, Minister Sari held discussions with IMF officials, including Mohamed Maait, the Fund’s Executive Director for Iraq and the region, and incoming Executive Director Ali Al-Hosani, alongside Central Bank of Iraq Governor Nizar Nasser Hussein. They addressed Iraq’s economic status, focusing on reform priorities and strengthening cooperation.

Minister Sari also met with Ali Abbas, the IMF’s Regional Director of Technical Assistance, to explore technical cooperation and leverage the Fund’s expertise for Iraq’s policy development. He emphasized the importance of IMF partnership in supporting reforms and expressed confidence in completing financial reforms within two years.

Addressing economic challenges, Sari mentioned the impacts of the Strait of Hormuz crisis on Iraq’s economy and the government’s measures to mitigate these effects. He also affirmed a commitment to supporting the private sector, enhancing its market role, and expanding investment opportunities.

IMF officials commended Iraq’s reform efforts and confirmed the Fund’s commitment to continue supporting and providing resources to advance these initiatives successfully.