Iraq’s national team and technical committee for sovereign credit ratings have held a joint meeting to discuss mechanisms for improving the country’s sovereign and credit rating.
The meeting was chaired by the Governor of the Central Bank of Iraq (CBI), Ali Mohsen Al-Alaq, and attended by the Prime Minister’s adviser and head of the technical committee, Mudher Mohammed Saleh, alongside experts from relevant ministries, the private sector, and the consulting firm Oliver Wyman.
Discussions focused on the key pillars required to enhance Iraq’s sovereign rating in coordination with international credit rating agencies, including S&P Global Ratings, Fitch Ratings, and Moody’s. The participants emphasised the importance of applying the five core pillars used in sovereign rating methodologies:
- Institutional quality and fiscal strength
- Monetary strength
- Economic structure and growth prospects
- Political developments and risk factors
- Governance and overall stability
The meeting also highlighted the need to build an integrated economic and financial database that accurately reflects Iraq’s reform efforts, institutional capacity, and future opportunities, while ensuring practical applicability. Participants stressed the importance of sustained and direct engagement with international rating agencies to improve mutual understanding and achieve durable positive outcomes.
The discussions form part of broader government efforts to enhance international confidence in the Iraqi economy. In September 2025, the government announced the formation of a national team dedicated to improving Iraq’s credit rating, bringing together experts and representatives from various economic sectors to support sovereign rating upgrades and financial and economic stability.
