Saturday, May 3, 2025
FRANK26: "ALL THREE AGREED ON 1310... OF COURSE NOT!!!"
KTFA
FRANK26: "ALL THREE AGREED ON 1310... OF COURSE NOT!!!"......F26
High-Level Iraqi Delegation Holds Talks with the World Bank and IMF in Washington
4/26/2025
Baghdad –
A high-ranking Iraqi delegation held talks with the World Bank and the International Monetary Fund (IMF) in Washington, D.C.
According to a statement from the Ministry of Finance, received by the Iraqi News Agency (INA), Finance Minister Taif Sami Muhammad, Central Bank Governor Ali Al-Alaq, and their accompanying delegation participated in the annual Spring Meetings of the World Bank Group and the IMF held in the U.S. capital. The meetings focused on global economic challenges, economic development, financial stability, and other related issues, including plenary sessions, seminars, and side consultations.
The statement noted that Minister Sami commenced her participation with an initial meeting with World Bank Executive Director Abdulaziz Al-Mulla, during which they discussed Iraq’s economic situation and the World Bank’s role in supporting Iraq’s reform programs. Topics included revenue enhancement, expenditure rationalization , digitalization, electronic systems, infrastructure, energy, and environmental projects.
The Minister also met with Hela Cheikhrouhou, IFC Regional Vice President, to address key obstacles facing investment in Iraq and explore solutions. They reviewed major projects overseen by the IFC in the transport, energy, and international trade finance sectors, with the IFC expressing readiness to support projects under the Iraq Development Fund.
The IFC emphasized its commitment to supporting Iraq’s private sector, as well as its agricultural and industrial sectors.
The delegation, led by the Finance Minister, also convened a high-level meeting with Ousmane Dione, World Bank Vice President for the Middle East and North Africa, to discuss the World Bank’s project portfolio in Iraq, particularly the railway project. Both parties agreed to review the portfolio to monitor project implementation, identify challenges, and devise solutions to ensure timely completion .
Discussions also covered Iraq’s government priorities for future projects, particularly in renewable energy, waste management, and transportation infrastructure—including metro systems, airports, and railways. Minister Sami and Mr. Dione also discussed human development in Iraq, emphasizing its inclusion in the World Bank’s future agenda to allocate funding and launch projects in education, healthcare, employment, and social protection sectors.
The Minister and the Central Bank Governor further participated in the ministerial meeting chaired by IMF Managing Director Kristalina Georgieva, attended by finance ministers and central bank governors of IMF member states. The discussions centered on the global economic outlook, heightened uncertainties, their impacts on national and global economies, resilience strategies, macroeconomic stability, debt sustainability management, and the exchange of experiences related to economic reforms, enhancing governmental institutional performance, and strengthening the private sector’s role in ensuring economic sustainability across the region.
Ms. Georgieva reiterated the IMF’s humanitarian support for countries affected by conflicts, emphasizing the Fund’s commitment to assisting the people of Gaza, Yemen, Syria, and Sudan. She stressed the importance of implementing medium-term reforms, building economic buffers, and pursuing economic diversification to strengthen fiscal sustainability and macroeconomic stability.
The Iraqi delegation’s agenda also included participation in a meeting with IMF Executive Director Dr. Mohamed Maait, where discussions highlighted reforms aimed at enhancing the performance of Iraq’s financial sector and opportunities to expand partnership areas with the Fund.
On the sidelines of the meetings, Minister Sami held a coordination meeting with Jean Guillaume, IMF Mission Chief for Iraq, to discuss the prospects for Iraq’s economic growth under the government’s reform program, which seeks to strengthen both the oil and non-oil sectors and to maintain economic stability amid global uncertainties.
The Minister also engaged with the IMF’s technical and financial affairs team to discuss progress on technical support provided to Iraq’s General Commission for Taxes and General Customs Authority, particularly regarding the automation of electronic systems and legislative reforms. The IMF expressed readiness to deliver technical support and training for customs and tax staff.
Further discussions included completing the requirements for the Treasury Single Account (TSA) and reviewing the Ministry of Finance’s progress on this initiative. Proposals for technical assistance on pension and social security reforms were also discussed, with a report to be submitted to the Iraqi government outlining suggested reforms in this sector.
The Iraqi delegation also met with Jihad Azour, Director of the IMF’s Middle East and Central Asia Department, to discuss a range of economic issues and fiscal policy outlooks. Mr. Azour reaffirmed the IMF’s commitment to supporting Iraq’s financial, banking, and monetary reform initiatives.
It is noteworthy that these annual meetings bring together central bank governors, finance and development ministers, private sector executives, civil society representatives, and academics to deliberate on key global issues, including the global economic outlook, poverty eradication, economic development, and aid effectiveness.
The event also features workshops, regional briefings, press conferences, and other activities focusing on global economics, international development, and the global financial system.
A high-ranking Iraqi delegation held talks with the World Bank and the International Monetary Fund (IMF) in Washington, D.C.
According to a statement from the Ministry of Finance, received by the Iraqi News Agency (INA), Finance Minister Taif Sami Muhammad, Central Bank Governor Ali Al-Alaq, and their accompanying delegation participated in the annual Spring Meetings of the World Bank Group and the IMF held in the U.S. capital. The meetings focused on global economic challenges, economic development, financial stability, and other related issues, including plenary sessions, seminars, and side consultations.
The statement noted that Minister Sami commenced her participation with an initial meeting with World Bank Executive Director Abdulaziz Al-Mulla, during which they discussed Iraq’s economic situation and the World Bank’s role in supporting Iraq’s reform programs. Topics included revenue enhancement, expenditure rationalization , digitalization, electronic systems, infrastructure, energy, and environmental projects.
The Minister also met with Hela Cheikhrouhou, IFC Regional Vice President, to address key obstacles facing investment in Iraq and explore solutions. They reviewed major projects overseen by the IFC in the transport, energy, and international trade finance sectors, with the IFC expressing readiness to support projects under the Iraq Development Fund.
The IFC emphasized its commitment to supporting Iraq’s private sector, as well as its agricultural and industrial sectors.
The delegation, led by the Finance Minister, also convened a high-level meeting with Ousmane Dione, World Bank Vice President for the Middle East and North Africa, to discuss the World Bank’s project portfolio in Iraq, particularly the railway project. Both parties agreed to review the portfolio to monitor project implementation, identify challenges, and devise solutions to ensure timely completion .
Discussions also covered Iraq’s government priorities for future projects, particularly in renewable energy, waste management, and transportation infrastructure—including metro systems, airports, and railways. Minister Sami and Mr. Dione also discussed human development in Iraq, emphasizing its inclusion in the World Bank’s future agenda to allocate funding and launch projects in education, healthcare, employment, and social protection sectors.
The Minister and the Central Bank Governor further participated in the ministerial meeting chaired by IMF Managing Director Kristalina Georgieva, attended by finance ministers and central bank governors of IMF member states. The discussions centered on the global economic outlook, heightened uncertainties, their impacts on national and global economies, resilience strategies, macroeconomic stability, debt sustainability management, and the exchange of experiences related to economic reforms, enhancing governmental institutional performance, and strengthening the private sector’s role in ensuring economic sustainability across the region.
Ms. Georgieva reiterated the IMF’s humanitarian support for countries affected by conflicts, emphasizing the Fund’s commitment to assisting the people of Gaza, Yemen, Syria, and Sudan. She stressed the importance of implementing medium-term reforms, building economic buffers, and pursuing economic diversification to strengthen fiscal sustainability and macroeconomic stability.
The Iraqi delegation’s agenda also included participation in a meeting with IMF Executive Director Dr. Mohamed Maait, where discussions highlighted reforms aimed at enhancing the performance of Iraq’s financial sector and opportunities to expand partnership areas with the Fund.
On the sidelines of the meetings, Minister Sami held a coordination meeting with Jean Guillaume, IMF Mission Chief for Iraq, to discuss the prospects for Iraq’s economic growth under the government’s reform program, which seeks to strengthen both the oil and non-oil sectors and to maintain economic stability amid global uncertainties.
The Minister also engaged with the IMF’s technical and financial affairs team to discuss progress on technical support provided to Iraq’s General Commission for Taxes and General Customs Authority, particularly regarding the automation of electronic systems and legislative reforms. The IMF expressed readiness to deliver technical support and training for customs and tax staff.
Further discussions included completing the requirements for the Treasury Single Account (TSA) and reviewing the Ministry of Finance’s progress on this initiative. Proposals for technical assistance on pension and social security reforms were also discussed, with a report to be submitted to the Iraqi government outlining suggested reforms in this sector.
The Iraqi delegation also met with Jihad Azour, Director of the IMF’s Middle East and Central Asia Department, to discuss a range of economic issues and fiscal policy outlooks. Mr. Azour reaffirmed the IMF’s commitment to supporting Iraq’s financial, banking, and monetary reform initiatives.
It is noteworthy that these annual meetings bring together central bank governors, finance and development ministers, private sector executives, civil society representatives, and academics to deliberate on key global issues, including the global economic outlook, poverty eradication, economic development, and aid effectiveness.
The event also features workshops, regional briefings, press conferences, and other activities focusing on global economics, international development, and the global financial system.
FIREFLY:Keep in mind that Alaq is the one that's actually going to pull the trigger on the new exchange rate when they tell them to do it.
Frank26
[Iraq boots-on-the-ground report]
FIREFLY:Keep in mind that Alaq is the one that's actually going to pull the trigger on the new exchange rate when they tell them to do it.
The only government official that can actually do that. Government officials do not control the rate so we have to see what Alaq says. This was from the deputy of the CBI.
FRANK: I don't see Alaq having that much authority. Granted I know he's in charge of it but he also has bosses like for example the board of directors who make all the decisions about the new exchange rate.
I just think that's important that we remember that.
FRANK26: "BOTH THE USA & THE MONETARY REFORM OF IRAQ DEMAND SECURITY & STABILITY!!!"
KTFA
FRANK26: "BOTH THE USA & THE MONETARY REFORM OF IRAQ DEMAND SECURITY & STABILITY!!!".....F26
Rubio: An Iraq free of "malign influence" is vital to regional stability
4/26/2025
US Secretary of State Marco Rubio reiterated on Saturday his country's support for Iraq's sovereignty, which preserves stability in the Middle East.
"A strong, stable, and sovereign Iraq, free from malign influence, is vital to the stability of the region and the preservation of U.S. interests and opportunities there," Rubio wrote in a post on Twitter following his meeting with his Iraqi counterpart, Fuad Hussein.
He added that he had "a valuable dialogue with Iraqi Deputy Prime Minister and Foreign Minister Fuad Hussein, and commended his efforts to de-escalate tensions and promote constructive dialogue in the region."
During his meeting with his American counterpart in Washington on Friday, Foreign Minister Fuad Hussein called on the United States to reconsider its security warnings regarding travel to Iraq.'
Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein arrived in Washington, D.C., on Thursday, April 24, for an official visit during which he will hold a series of bilateral meetings with a number of senior US administration officials.
This visit comes within the framework of strengthening bilateral relations between the Republic of Iraq and the United States of America, exploring ways to develop joint cooperation in the political, security, and economic fields, as well as discussing regional and international issues of common interest.
TIDBIT FROM YADA
Yada
For this rate to delay another month would mean they'd have to freeze all they've done up till now.
26 billion dollar worth of oil not flowed from Iraq to Turkey and all needed is the rate to populate.
US pushing to get it restarted. Billions of invested money from companies arrived in Iraq the past 3 weeks and doubt they will just sit on it with no rate change...
There is much said in the articles as well as prep actions of Iraq to indicate, the rate release is upon us.
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