Bangkok:Finance Minister Falih Sari emphasized the importance of the partnership with the International Monetary Fund (IMF) in supporting Iraq’s reform efforts and enhancing their chances of success.

According to National Iraqi News Agency, the Ministry of Finance stated that Minister Sari participated in the annual meetings of the IMF and the World Bank Group in Bangkok, Thailand. This participation is part of efforts to strengthen cooperation with international financial institutions and support economic and financial reform in Iraq.

The Minister held a series of meetings with IMF officials, including discussions with Mohamed Maait, the IMF’s Executive Director for Iraq and the region, and the incoming Executive Director, Ali Al-Hosani. These meetings, attended by the Governor of the Central Bank of Iraq, Nizar Nasser Hussein, focused on Iraq’s economic and financial situation, reform priorities, and ways to enhance joint cooperation.

Minister Sari also met with Ali Abbas, the Regional Director of the IMF’s Technical Assistance Division, to explore areas of technical cooperation and the use of the IMF’s expertise to develop financial and economic policies in Iraq. He expressed confidence that fiscal reforms could be achieved over the next two years.

Addressing economic challenges, the Minister highlighted the impact of the Strait of Hormuz crisis on the Iraqi economy, emphasizing the government’s efforts to formulate immediate measures and long-term solutions to mitigate its effects.

He also reiterated a commitment to supporting the private sector, aiming to alleviate pressures and enhance its role in the market economy, thus contributing to expanded investment opportunities.

IMF officials praised the Iraqi government’s reform efforts, reaffirming the Fund’s commitment to leveraging its expertise and resources to support these initiatives and ensure their success.