Baghdad (IraqiNews.com) – Iraqi Prime Minister Mohammed Shia al-Sudani highlighted on Monday the importance of utilizing the experience of major multinational corporations in restructuring Iraq’s public debt.
Al-Sudani’s remarks took place during a meeting he chaired to review financial regulation and approaches to reschedule and manage the country’s public debt, according to a statement released by the Prime Minister’s Office (PMO).
The meeting included the Minister of Finance, the Governor of the Central Bank of Iraq (CBI), financial and economic advisors, and representatives from Oliver Wyman, a worldwide management consultancy firm that specializes in financial audits.
The prime minister stressed that the government has continued to progress its financial and economic reform program. He also emphasized the significance of developing medium-term plans customized to the nature of the debt, Iraq’s credit rating, and key global indicators, as well as the need to draw up budgets based on realistic evaluations of the country’s available finances and execution capabilities.
Al-Sudani stated that a plan for public debt management must include the development of successful implementation strategies within a comprehensive framework that is consistent with long-term economic transformation.
The Prime Minister directed the Finance Ministry, the CBI, and financial advisers to continue coordinating with Oliver Wyman to develop the most effective frameworks and financial mechanisms for managing public debt, in accordance with strong financial indicators that support Iraq’s economic growth.
