Minister of Finance Taif Sami Mohammed discussed Iraq’s economic situation, reform programs, and revenue enhancement efforts during the annual meetings of the World Bank Group and the International Monetary Fund (IMF) held in Washington between October 13 and 18, 2025.
The Finance Ministry said in a statement received by the Iraqi News Agency (INA) that Minister Sami, accompanied by the Deputy Governor of the Central Bank of Iraq and a delegation, took part in the annual meetings to discuss global economic challenges, development issues, and financial stability, in addition to attending general sessions, seminars, and side consultations.
Sami began her participation with a meeting with World Bank Executive Director Abdulaziz Al-Mulla, where discussions focused on Iraq’s economic conditions and the Bank’s support for Iraq’s reform agenda, particularly in areas of revenue generation, expenditure rationalization, digitalization, and new infrastructure, energy, environment, and water projects.
She also met with Ricardo, Vice President for the Private Sector, to discuss projects of the International Finance Corporation (IFC) in Iraq, addressing investment obstacles and highlighting key projects, including the rehabilitation of Baghdad International Airport, support for associated gas treatment in Basra Gas, energy initiatives, and international trade financing. Ricardo reaffirmed the IFC’s commitment to supporting Iraq’s private sector, as well as its agriculture and industry sectors.
The statement added that Sami chaired a high-level meeting with World Bank Vice President for the Middle East, Ousmane Dione, to review Iraq’s project portfolio, including the railway project, and agreed to monitor implementation challenges and prioritize future government projects in sectors such as transport, energy, wastewater management, and airports. The meeting also discussed human capital development projects to be included in the World Bank’s 2026 plans and the allocation of financial support for completed local projects pending payment due to Iraq’s 2025 fiscal deficit.
Sami later attended the meeting of Arab Governors at the World Bank, chaired by World Bank President Ajay Banga, to review the economic situation of Arab countries and discuss the challenges facing some regional economies, the structural reforms needed to accelerate growth, and the Bank’s humanitarian support to conflict-affected areas, particularly Gaza, Syria, Yemen, and Lebanon.
The minister, accompanied by the Deputy Governor of the Central Bank, also joined a ministerial meeting chaired by IMF Managing Director Kristalina Georgieva, attended by finance ministers and central bank governors. The discussions focused on the global economic outlook, growing uncertainty, fiscal resilience, debt sustainability, and strategies to strengthen macroeconomic stability, as well as sharing experiences on economic reforms and promoting private sector growth.
During the meeting, Sami presented “Iraq Vision 2050,” which aims to reduce dependency on oil, empower the private sector, foster inclusive growth, and advance tax and customs reforms through digital transformation. She highlighted the government’s commitment to building a diversified, modern economy that benefits all citizens.
According to the statement, Georgieva reaffirmed the IMF’s commitment to supporting fragile and conflict-affected countries, including Gaza, Yemen, Syria, Lebanon, and Sudan, stressing the importance of medium-term reforms, economic diversification, and building fiscal buffers to maintain financial stability.
The Iraqi delegation also met with IMF Executive Director Mohamed Maait to review financial sector reforms and discuss ways to strengthen cooperation and partnership with the Fund.
Additionally, Sami held a coordination meeting with Jean Guillaume, head of the IMF mission to Iraq, to discuss the outlook for Iraq’s economic growth under the government’s reform agenda, focusing on sustaining macroeconomic stability amid global challenges.
She also met with the IMF’s technical and financial affairs team to discuss digital automation in the tax and customs systems, review legislative amendments, and finalize requirements for Iraq’s unified treasury account. The IMF team expressed readiness to provide technical assistance and training for Iraqi customs and tax staff.
The statement noted that Sami proposed technical support for pension and social security reforms, with a detailed reform proposal to be submitted to the Iraqi government.
The delegation also met with Jihad Azour, Director of the IMF’s Middle East and Central Asia Department, to discuss Iraq’s fiscal policies and reaffirm the Fund’s commitment to supporting Iraq’s financial, banking, and monetary reform programs.
The statement concluded that the annual meetings bring together central bank governors, finance and development ministers, private sector executives, civil society representatives, and academics to discuss key global issues, including economic outlook, poverty reduction, development, and financial stability through workshops, regional briefings, and conferences.
